Dubai bourse says Aabar’s stake in Arabtec stabilises

June 16, 2014 11:09 am

Dubai Bourse said in a statement that the stake which Abu Dhabi state fund Aabar Investments holds in Dubai builder Arabtec has stabilised after falling sharply last week, Arabian Business has reported. Between June 8 and 11, Aabar cut the stake to 18.85 percent from 21.57 percent; its selling fuelled a 30 percent plunge in Arabtec’s stock price as investors worried that the commitment of a major shareholder in the firm was waning. Aabar has declined to comment on its strategy.