By: Mahmoud Gamal
Dubai – Mubasher: Drake and Scull International’s (DSI) stock rose in Monday’s trading session, following the announcement of completing its capital restructuring plan in the third quarter of 2017.
The stock rose 1.88% to AED 0.434; its highest level in 33 sessions since 4 July.
DSI was the most active stock and value leader after trading 62.39 million shares through 646 transactions.
CEO Wael Allan said in a press conference on Sunday that DSI is in the final stages to obtain the approval for a capital reduction by 75%.
Tabarak Investment has acquired the former CEO’s stake that amounts to 10.4%, becoming the main shareholder.
Translated by: Julian Nabil
