UAE's Arabtec cancels USD639 m rights issue
(MENAFN) Arabtec Construction, one of the largest builders in the Arabian Gulf, has cancelled raising USD 639 million through a rights issue in 2014, according to the National AE.
The company said to Dubai bourse that it cancelled the second tranche of rights issue regarding to its strong existence.
Arabec also mentioned the firm's low financial performance and debt leverage levels.
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