Arabtec’s CEO allegedly barred from trading in shares

Ahram online, Wednesday 5 Jan 2011

CEO claims to not know the reasons for the decision

Arabtec CEO Riad Kamal has allegedly been suspended from buying shares in the UAE for six months, Bloomberg reports. The CEO acknowledged the ban on buying listed shares in the markets, but said he was not aware of the exact reasons, and would be contacting the regulators.

Arabtec, a leading construction company operating in the UAE, was recently awarded a $150.2 million project with a total built up area of over 90,000 square metres. The development is expected to take 24 months to complete, according to the company's official website. 

Search Keywords:
Short link: