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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 statement to the Dubai bourse that Tabarak owns over 142 million shares in DSI.
It added that changes in the ownership of Tabarak Investment in DSI are “a result of the margin calls executed by financial institutions during the month of July 2018, which instigated the sale of DSI shares under the terms of a financing agreement.”
Dubai contractor Drake & Scull International said its former management was involved in “material” financial violations that are currently under investigation by the designated UAE authorities.
An internal probe by Drake & Scull International PJSC into alleged violations by the previous management has concluded that former chief executive officer Khaldoun Al Tabari and his daughter owe the
Drake and Scull’s (DSI) share prices plunged 10 per cent, the maximum permissible drop on a stock, on Wednesday for the third day in a row, bringing its year-to-date decline to around 68 per cent.
Bahrain’s Investcorp slipped into a $165 million loss for the 12 months ended June 30, against profits of $131 million a year ago.
The COVID-19 played its part in the loss, as fee income c
Aramex, a leading provider of logistics and transportation solutions, has registered a 4 per cent growth in its revenues for the second quarter which surged to hit AED1.32 billion ($359 million), com
Abu Dhabi based investment company Waha Capital recorded a net loss of Dh27.2 million - attributable to shareholders - for the first six months of 2020, an improvement on the Dh124.38 million it rec
First Abu Dhabi Bank (FAB), recently announced the issuance of the largest-ever Chinese Yuan (CNH) denominated dual-listed Formosa bond globally, with a CNH 3.25 billion five-year issuance.
The Gulf Today
UAE's leading telecom services operator Etisalat Group has announced that the interim dividend of 15 fils per share for the second quarter will be paid out starting from August 11 through the First A