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

By Reuters
  • Sunday, 3 March 2013 10:57 AM
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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.

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