Ex-CEO said to have increased stake in Arabtec, leads to sharp share price increase
Arabtex’s ex-CEO Hasan Ismaik is said to have increased his stake in the company. According to press reports Ismaik will continue to increase his stake. The biggest listed construction company in the United Arab Emirates was at the center of a stock selloff that wiped a fifth from Dubai’s benchmark index in 2014 amid a reshuffle of senior management and investor concern the company was losing Abu Dhabi-government support. Bloomberg’s data showed that Ismaik owned 11.8% stake in the company. (Bloomberg)
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