Drake & Scull wins approval for capital reduction

28/09/2017 07:20 AST

Drake & Scull International (DSI), a regional market leader in engineering and construction services, has won regulatory approval to reduce its share capital by 75 per cent and also to list 500 million new shares.

The reduction of DSI’s share capital from Dh2.28 billion ($620 million) to Dh571 million ($155 million) will be effective from October 2, said the company in a filing to the Dubai Financial Market (DFM).

This announcement comes close on the heels of the shareholders' approval for its capital restructuring program at the second General Assembly meeting this month.

The top Dubai builder has also received regulatory approval for the subsequent capital increase through the issuance of 500 million new shares to Tabarak Investment. The new shares will be listed on the DFM on Sunday (October 1).

Upon completion of the listing of the new shares the share capital of DSI will increase from Dh571 million to Dh1.07 billion ($291 million), it added.


Trade Arabia

News

Tabarak raises stake in Drake and Scull to 13.73%

17/09/2018

Private equity firm Tabarak Investment has increased its shareholding in Drake and Scull International, despite a drop in the Dubai contracting company's shares and ahead of a shareholder meeting lat

The National

Drake & Scull International names new group CEO

15/08/2018

Drake & Scull International (DSI), a regional leader in engineering and construction services, has appointed Yousef Al Mulla as the new group CEO replacing Dr Fadi Feghali who will be assuming a new

Trade Arabia

DSI confirms Tabarak remains ‘strategic investor’

17/07/2018

Drake and Scull International (DSI) said on Monday that Tabarak Investment’s stake in it is at 13.26 per cent, and that Tabarak “will continue to be a strategic investor.”

DSI said in a sta

Gulf News

Most Viewed Companies

Ticker Price Volume
SABIC 118.60 3,051,555
EEC 17.96 1,356,411
WALAA 23.70 381,943
JAZIRATKFL 19.00 85,514
SACO 71.00 167,636
JABALOMAR 38.30 838,646
BURUJ 24.04 60,830

Valuation

DSI Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
EMAAR 4.71 0.00 (0.00%)
EMAARMALLS 1.82 -0.03 (-1.63%)
EMAARDEV 5.20 0.02 (0.38%)
DAMAC 2.02 -0.01 (-0.50%)
UPP 0.69 -0.01 (-0.73%)

Recent News

Aldar Properties unit to start sukuk roadshow

18/09/2018

Aldar Properties said on Monday that its subsidiary Aldar Investment will commence a series of meetings to issue fixed-rate US dollar denominated sukuk with a tenor of five to 10 years.

The

Gulf News

QIC Group to increase ties with Romania

18/09/2018

The Senior Deputy Group President & CEO of Qatar Insurance Company (QIC) Group, Ali AlFadala recently met with the Ambassador of Romania to Qatar, Cristian Tudor at QIC headquarters in West Bay.

The Peninsula

Bank Muscat al Wathbah Academy begins new session

18/09/2018

Bank Muscat, the flagship financial services provider in the Sultanate, in step with its vision ‘To serve you better, everyday’ and commitment to strengthen support to small and medium enterprises (S

Oman Daily Observer

Investcorp acquires biggest US warehouse portfolio for $300m

18/09/2018

Bahrain-based Investcorp, a leading provider and manager of alternative investment products, has announced that its US-based real estate team had recently acquired its largest US warehouse portfolio,

Trade Arabia

Sreco awards $293m contract for giant Saudi project

18/09/2018

Saudi Real Estate for Infrastructure Company (Binyah) has won a SR1.1-billion ($293 million) infrastructure contract from the kingdom's leading developer Al Akaria Saudi Real Estate (Sreco) for its g

Trade Arabia

logo

Market Information Trading Co.

(MITCO), P.O. Box 15570, Jeddah 21454, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2017, Market Information Trading Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap