DSI working with bourse and market regulator for resumption of trading - The National:
Drake & Scull International, the loss-making contractor whose stock has lost 84 per cent of its value this year, is in talks with the Dubai bourse and the UAE’s market regulator to remove the trading suspension of its shares.
The company's shares were barred from trading on November 14 after DSI announced the appointment of external restructuring advisers as its third-quarter loss widened on the back of project costs.
DSI is in “continuous communication and co-operation with the Dubai Financial Market and the Securities and Commodities Authority to lift the suspension on the trading of the company's shares once the ongoing operational and financial restructuring plan is approved”, it said in a bourse filing on Tuesday. DSI will provide “any additional information that the authorities may require in this respect”, it added.
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