"Arabtec is set to begin subscriptions for a Dh2.38 billion rights issue on June 9, the Dubai-listed contractor announced yesterday.
The company, which is 21 per cent owned by the Abu Dhabi investment fund Aabar, invited shareholders to buy the additional shares in the company at 27 branches of National Bank of Abu Dhabi and 17 branches of Abu Dhabi Commercial Bank across the UAE until June 23.
The news came after Arabtec, which at the beginning of the week had to deal with a strike by some workers, received final regulatory approval from the Securities and Commodities Authority to go ahead with the capital raising, which was ratified by shareholders in April."
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