Dubai – Mubasher: The Dubai Financial Market (DFM) announced on Monday that UNIKAI Foods has opened ownership of its stocks to GCC citizens to 49%.

The decision is effective Sunday, 12 July, the DFM said on its official website.

UNIKAI’s shareholders approved on 25 March the amendment to ownership limits, allowing UAE citizens to own up to 51%, with 29% (maximum of 49%) to GCC citizens and 20% to expatriates.

The foods company recently disclosed its financials for the first six months of 2015 and posted a net profit of AED 6.2 million ($1.7 million) during the period against a net loss of AED 20.67 million ($5.6 million) in H1-14.

Shareholders also approved on 25 March the company’s continuity and the split of the nominal value of its shares from AED 100 to AED 1 per share.