Property News · January 23, 2017

Arabtec shares to be suspended from trading on DFM ahead of Q4 results announcement


Shares in Arabtec Holding will be suspended from 11.30am pending the release of its fourth quarter earnings statement. A notice from the Dubai Financial Market this morning stated that “as its Board of Directors meeting is being held today”, the construction firm’s shares will not trade until results are disclosed. The meeting is being held in Abu Dhabi at the offices of the parent company of Aabar, which is the largest shareholder in Arabtec, with a 36 per cent stake. EFG Hermes expects Arabtec’s losses to narrow in the fourth quarter of 2016 compared to a year earlier, according to Reuters. Arabtec reported a net loss of Dh342.1 million for the final three months of 2015. The company’s shares are up more than 11 per cent in 2017. business@thenational.ae

Source : thenational.ae
Read more…Arabtec shares to be suspended from trading on DFM ahead of Q4 results announcement

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