The Abu Dhabi Securities Exchange has launched an investigation into what it describes as unusual shareprice movements of Aldar Properties and Sorouh Real Estate before they announced a $15 billion merger yesterday.
The share prices of both companies, Abu Dhabi's biggest developers, rose exactly the same amount yesterday to close up 7.9 per cent at Dh1.24. After the market closed the companies released a joint statement to announce they are considering a merger.
Both stocks moved up in lockstep again today.
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