Dubai's Arabtec shares suspended by regulator

Shares of Dubai builder Arabtec were suspended from the start of formal trading at 0600 GMT on Wednesday following a request from the stock market regulator.

No reason was provided for the suspension of trading.

Arabtec said earlier in the day that its board had not taken any decisions on the acquisition of another company and that it would reveal any developments according to regulations.

The builder is in talks to fully acquire a construction unit of Kuwait's Kharafi Group, sources familiar with the matter have told Reuters.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Andy

Did shareholders get their money back? This reminds me of Tamweel

All comments are subject to approval before appearing

Further reading

Features & Analysis
Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

The troubles at Saudi Oger have led to a cash crunch and layoffs...

Fly economy class, share an office: Qatar's new reality

Fly economy class, share an office: Qatar's new reality

Gov't employees are being asked to make savings as low energy...

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

4
Most Discussed
sponsoredTracking