Dubai – Mubasher: Several transactions executed on Drake & Scull International’s (DSI) stock on Sunday bolstered the stock on the Dubai Financial Market (DFM), prompting it to acquire more than half of the market’s turnover.
By 11:30 am UAE time, DSI’s stock saw 33 transactions worth a combined value of over AED 1 million, whereas the total number of deals carried out on DSI’s stock reached 845 transactions.
DSI’s stock gained 5% to AED 1.8, making it the second biggest riser on the DFM on Sunday.
Turnover on the DFM amounted to AED 118 million after 66.36 million shares changed hands through roughly 3,000 transactions.
Last week, DSI announced that its strategic investor Tabarak Investment had made an AED 500 million investment in the company’s capital.
In addition to issuing 500 million shares for Tabarak, DSI also completed its financial restructure programme through which it aimed to bolster’s financial position.
The new injection raised DSI’s capital to AED 1.07 billion.
