Aabar shares tumble 7pc as delisting vote nears

ABU DHABI — Aabar Investments PJSC shares fell the most in almost seven months as the board of the Abu Dhabi-based investment giant seeks shareholders’ consent on its plans to delist from the Abu Dhabi Securities Exchange, or ADX.

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By Haseeb Haider

Published: Mon 28 Jun 2010, 11:37 PM

Last updated: Mon 6 Apr 2015, 4:59 PM

The shares lost as much as 7.1 per cent, with prices plummeting to Dh1.58, at the close of the market on Sunday.

The board set July 26 as the date for holding an extraordinary general meeting, or EGM, to decide issues related to the company’s conversion into a private joint stock company.

In a statement after the meeting, the board said it considers this step as “essential” in the life of the company to provide Aabar with greater operational flexibility required to ensure the ongoing success of the company’s investment strategy and its ability to effect opportunistic acquisition both in the UAE and abroad.

haseeb@khaleejtimes.com

Haseeb Haider

Published: Mon 28 Jun 2010, 11:37 PM

Last updated: Mon 6 Apr 2015, 4:59 PM

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