The builder is in talks to fully acquire a construction unit of Kuwait's Kharafi Group
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
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.
Did shareholders get their money back? This reminds me of Tamweel