Analysts reluctant to speculate on price outlook for Dubai builder Arabtec | The National:
"UAE equity analysts yesterday refused to predict how much damage would be done to Arabtec’s share price, after another day on which its shares closed limit-down – effectively washing their hands of the builder’s prospects.
Arabtec’s share price lost 9.83 per cent yesterday, representing a loss of Dh1.4 billion of its value, and closing at Dh3.12, down from Dh3.46. Trading was stopped at 11:52am, as UAE regulations prevent trading in a company that has lost 10 per cent of its value.
It has now lost 59 per cent of its value since its May peak of Dh7.7 a share in a period in which it has lost its chief executive and shed senior management while remaining silent on the future of its ambitions to become a global top 10 construction company."
'via Blog this'
No comments:
Post a Comment