Shares in Dubai's Arabtec plunge to two-month low

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Shares in Dubai's Arabtec slump to a two-month low, extending losses after the company announced plans to raise US$1.8bn in capital that will be dilutive to shareholders.

Arabtec tumbles 9.7 percent to AED2.4, its lowest price since January 3.

Analysts say shareholders subscribing at AED1.5 will face no dilution.

Dubai's index slips 0.3 percent to 1,922 points, while Abu Dhabi's benchmark falls 0.2 percent to 3,038 points.

Related:
Companies
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

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Danger zone: what would the wider impact of a slowdown in China have on the Gulf?

Danger zone: what would the wider impact of a slowdown in China have on the Gulf?

Last week’s stock market crash in China sent shockwaves through...

2
Blood on the bourse floor

Blood on the bourse floor

Arabtec’s share price collapse was the catalyst for a huge sell...

Taking stock

Taking stock

Gulf stock markets have seen a dearth of IPOs since the global...

Most Popular
Most Discussed