Oasis opens to foreign ownership
Adu Dbabi-based Oasis International Leasing is shaking up its Articles of Association to encourage foreign and institutional ownership.<br>
Abu Dhabi-based Oasis International Leasing is to allow foreign ownership of up to 49% of its shares. Oasis becomes only the second listed UAE company to allow foreign ownership.
“Widening the shareholder base will help meet the considerable investor interest in Oasis,” says Gordon Dixon, chief executive, Oasis. “The ability to offer shares to international investors will enable us, for the first time, to tap regional and global investors.”
The company has also changed its Articles of Association to allow individual shareholders to hold stakes of more than 5% in the company. The move aims to encourage institutional investors to put more money into the company.
Oasis specialises in aircraft and ship leasing, owning 12 aircraft and a 50% stake in a bulk carrier ship. The company says that it intends to increase its interest in shipping, infrastructure and power plant financing.