Arabtec’s shares fell today after denying the reports talking about appointing its ex-chief executive Hasan Ismik in the company’s board.
The company mentioned in its report that all rumors talking about appointing Mr. Hassan Ismik are false. It added also that it doesn’t look forward to changing the current structure of its board.
The company’s shares declined by 6.5% to reach 1.71 dirhams.
It’s worth mentioning that the company’s shares have witnessed a significant demand in the latter period especially after Ismik increased his shareholding percentage from 11.8% to 11.9%.
Arabtec was the exception of the day as the stocks flourished following the strengthening oil prices.