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Wednesday, 28 June 2017

Arabtec share prices plunge 9% after capital reduction | GulfNews.com

Arabtec share prices plunge 9% after capital reduction | GulfNews.com:

"Arabtec share prices dropped as much as 9 per cent on Wednesday in the first few hours of trade as the company announced it has completed its recapitalisation programme, which involved a rights issue and capital reduction. Arabtec’s shares were among the most actively traded on the Dubai Financial Market (DFM) on the first day of trade this week after the three-day Eid Al Fitr holiday. The sell-off on Wednesday comes just after Arabtec slashed its capital by Dh4.6 billion to extinguish accumulated losses, thereby also cutting 4.6 billion shares off the bourse. "



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