Arabtec Surges After Aabar Boosts Stake to 21%: Dubai Mover
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Arabtec Holding Co. surged the most in three weeks after Abu Dhabi’s state-owned Aabar Investments PJSC boosted its stake in the Dubai builder through its units to more than 20 percent.
The shares of the biggest construction company by market value in the United Arab Emirates extended gains following a bourse disclosure, surging 4.7 percent, the most since April 24, to 2.91 dirhams at the close in Dubai today, giving the company a market value of 4.57 billion dirhams ($1.24 billion). The stock was the most traded by volume on Dubai’s benchmark DFM General Index, which fell 0.4 percent.