{"id":6364,"date":"2016-02-29T19:04:00","date_gmt":"2016-02-29T12:04:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-soars-as-ex-chief-hasan-ismaik-adds-to-stake\/"},"modified":"2016-02-29T19:16:04","modified_gmt":"2016-02-29T12:16:04","slug":"dubais-arabtec-soars-as-ex-chief-hasan-ismaik-adds-to-stake","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-soars-as-ex-chief-hasan-ismaik-adds-to-stake\/","title":{"rendered":"Dubai's Arabtec soars as ex chief Hasan Ismaik adds to stake"},"content":{"rendered":"


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\nArabtec’s former chief executive Hasan Ismaik has added to his stake, helping to boost shares of the construction company the most in more than a year.The former CEO’s holdings rose to 11.91 per cent on Monday from 11.81 per cent, according to data on the website of Dubai Financial Market. The stock price surged 14 per cent to Dh1.44, the biggest increase since December 2014, as more than 414 million shares changed hands.\u00a0Arabtec was the second-biggest contributor to the gain in Dubai’s DFM General Index, which advanced 2 per cent to the highest level since November.
\n“It’s been a long time since I’ve seen shares jump this much,” said Nabil Farhat, an Abu Dhabi-based partner at Al Fajr Securities. “Speculators are chasing liquid stocks and Ismaik’s increasing his stake is driving more investors to buy. It’s unclear how much he can increase his stake to.”The biggest-listed construction company in the UAE was at the centre of a stock selloff that wiped a fifth from Dubai’s benchmark index in June 2014 amid a reshuffle of senior management and investor concern the company was losing Abu Dhabi-government support. While Arabtec shares never recovered and are down about 80 per cent from their peak, their 14-day relative-strength index rose above 70 for the first time since June, a signal to some analysts they may be overbought and poised to decline.
\nIsmaik didn’t respond to calls and messages to his mobile. A spokeswoman for Arabtec declined to comment. CNBC Arabia reported the news earlier,\u00a0citing people it didn’t identify.business@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai’s Arabtec soars as ex chief Hasan Ismaik adds to stake<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabtec’s former chief executive Hasan Ismaik has added to his stake, helping to boost...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-6364","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-1EE","jetpack-related-posts":[{"id":6350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-soars-14-amid-speculation-ex-chief-hasan-ismaik-is-adding-to-stake\/","url_meta":{"origin":6364,"position":0},"title":"Dubai's Arabtec soars 14% amid speculation ex chief Hasan Ismaik is adding to stake","date":"February 29, 2016","format":false,"excerpt":"\r \r Arabtec jumped to the highest in almost four months as traders speculated former chief executive Hasan Ismaik is adding to his stake.The builder soared 14 per cent to Dh1.44 12.15pm in Dubai, the biggest jump since June. More than 368 million shares changed hands, about 14-times the six-month\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7068,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-says-ex-ceo-hasan-ismaik-is-not-joining-the-board-of-dubai-contractor\/","url_meta":{"origin":6364,"position":1},"title":"Arabtec says ex CEO Hasan Ismaik is not joining the board of Dubai contractor","date":"March 7, 2016","format":false,"excerpt":"\r \r Rumours that a former chief executive of Arabtec Holding, Hasan Ismaik, will be appointed to its board are false, the Dubai-listed construction firm said on Monday.\"The rumours over the appointment of Mr Hasan Ismaik as chairman or member of the board of directors of Arabtec are false and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-continue-dizzying-rise-in-dubai-after-hasan-ismaik-increases-stake\/","url_meta":{"origin":6364,"position":2},"title":"Arabtec shares continue dizzying rise in Dubai after Hasan Ismaik increases stake","date":"March 1, 2016","format":false,"excerpt":"\r \r Arabtec shares continued their dizzying rise on Tuesday morning, after former chief executive Hassan Ismaik increased his stake in the company to 11.91 per cent on Monday.The Dubai construction firm's shares rose by nearly 12 per cent at the open before paring gains slightly, trading up 7.64 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-soar-after-former-chief-hasan-ismaik-raises-stake-in-dubai-builder\/","url_meta":{"origin":6364,"position":3},"title":"Arabtec shares soar after former chief Hasan Ismaik raises stake in Dubai builder","date":"February 29, 2016","format":false,"excerpt":"\r \r Arabtec Holding's former chief executive Hasan Ismaik has increased his shareholding in the builder, sending its shares soaring to their highest level since November.Mr Ismaik's shareholding in the company increased to 11.91 per cent from 11.81 per cent, according to the Dubai Financial Market website. The stock rose\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-shares-plunge-20-per-cent-as-rally-comes-to-dramatic-end\/","url_meta":{"origin":6364,"position":4},"title":"Arabtec shares plunge 20 per cent as rally comes to dramatic end","date":"March 2, 2016","format":false,"excerpt":"\r \r Arabtec plummeted 20 per cent in the final 90 minutes of trading, bringing the stock's dramatic three-day rally to an abrupt end.EFG Hermes downgraded Arabtec to 'sell' from 'hold', arguing that the construction firm's fundamentals did not justify recent rises in their share prices.The bank argued that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27171,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-trading-volumes-for-arabtec-stock-as-new-shareholder-is-revealed\/","url_meta":{"origin":6364,"position":5},"title":"High trading volumes for Arabtec stock as new shareholder is revealed","date":"September 25, 2016","format":false,"excerpt":"\r Tasameem Real Estate, based in Abu Dhabi, has become the second largest shareholder in Arabtec Holding, according to data on Dubai's stock exchange, replacing the company's former chief executive Hassan Ismaik.Tasameem, an investment company owned by the UAE's Deputy Prime Minister Sheikh Mansour bin Zayed, was listed on Sunday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6364"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=6364"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/6364\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=6364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=6364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=6364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}