DUBAI: Arabtec Holding PJSC plans to raise 1.5 billion dirhams (US$408mil) from a rights issue after the United Arab Emirates’ biggest listed construction company posted its second yearly loss. The shares slumped, being the biggest contributor to drop of Dubai’s main index.
The loss for the year widened to 3.41 billion dirhams from 2.35 billion dirhams a year earlier, the company said in a statement to the Dubai bourse. The mean estimate of eight analysts was for a loss of 580 million dirhams, according to data compiled by Bloomberg.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
