Ismaik cuts Arabtec stake

July 27, 2014 6:40 am

Hasan Ismaik, the former chief executive of Arabtec, has cut his stake slightly in the group by selling around $4m worth of the Dubai construction company’s shares, Reuters has reported. Ismaik cut his stake to 28.77% from 28.85%, according to the website of the Dubai Financial Market. Ismaik, who earlier this week declined to comment on his stake, remains the biggest shareholder in Arabtec.