Dubai – Mubasher: Drake and Scull International (DSI) has stated that the decline of its stock is out of its control, as it is a matter that is subject to the push and pull of supply and demand.
The company’s stock has been dropping since the announcement of adding AED 500 million to capital through issuing new shares with a par value of AED 1.25 per share.
“The company is committed to the laws and regulations related to disclosure and transparency and that the company does not have any information or operational or technical news that that is not disclosed to the market,” the regional provider of engineering and construction services said in a bourse statement.
Tabarak Investment confirmed that it did not sell any of its shares in DSI whether directly or indirectly.
In April, the advisor to DSI’s board Ziad Makhzoumi told CNBC Arabia that the issue price of the Dubai-listed developer’s new shares is not final.
The issue price of DSI's new shares is not final, Ziad Makhzoumi, the advisor to the UAE-based developer’s board told CNBC Arabia on Wednesday.
