Dubai’s index slipped 0.3 per cent as Arabtec dropped 2.8 per cent and was one of the most heavily traded stocks on the bourse.
Shares will be sold at SAR23 each, with shareholders eligible to purchase one new share for every 3.8 shares they currently own.
The builder reported a profit of Dhs68.7 million ($18.71 million) in the third quarter of 2014, down from Dhs100.8 million in the corresponding period of 2013.
The company made a net profit of Dhs109.3 million in the third quarter of 2014, down from Dhs140.8 million in the year-earlier period.
Under the deal signed last week, the IQ Made in Italy joint venture will buy a 28.4 per cent stake in Inalca.
Gulf bonds are actually viewed as defensive plays by some international investors, even though the region is heavily exposed to oil prices and the scene of a fair amount of geopolitical instability.
The Christie’s name will soon be facilitating the sale of more than just art and watches in the UAE.
The investment will be channeled through its KEF Infra and KEF Health verticals, the company said.
The chief executive declined to specify exactly which assets the company wanted to exit or how it would do it.
Jabal Omar said that it made a profit of $115 million in the fourth quarter of the Hijri calendar year which ended last month.
The project financing will fund construction of the parks, along with equity provided by Meraas investment group and the $689 million initial public offering (IPO) of 40 per cent of Dubai Parks and Resorts.
Aldar is working on 23 development projects in Abu Dhabi and is focused on completion of existing projects, CFO Greg Fewer said.
Abu Dhabi’s index climbed 0.1 per cent while Dubai’s bourse edged down 0.3 per cent.
The purchase of EZW, currently owned by Port and Free Zone World, includes the assumption of net debt of $859 million.
Aldar made a profit of Dhs584 million ($159 million) in the third quarter of 2014, compared with Dhs413 million in the corresponding period in 2013.
The widely differing numbers underline the difficulty of finding reliable economic statistics in the Gulf, where many governments have not developed extensive systems for collecting data.
The property firm said that it will focus on countries such as Saudi Arabia while avoiding conflict-prone states such as Egypt and Syria.
The firm made KD10.9 million ($37.45 million) in the third quarter of 2014.
UAE residents and citizens can now obtain their credit reports from the Al Etihad Credit Bureau’s website or customer service centres for a nominal fee.
Lamprell’s shares rose as much as 5.8 per cent to 150.25 pence in morning trade, following the announcement.
Pricing of the bond tightened on high investor demand, with orders topping $3 billion, according to the arrangers.
The major oil exporter’s public spending was 6.12 billion dinars in April-September, below 11.61 billion dinars originally planned for the period.
The state-owned bank revealed that the portion for retail investors was 23 times subscribed, with a total of 1.25 million subscribers.
The firm suffered $3.2 million loss in the same period last year.
The smelter made a third-quarter net profit of BD29.5 million ($78.25 million) in the three months to Sept. 30, up from BD4.9 million in the year-ago period.
The firm, also called flydubai, has picked seven banks as arrangers, a document from lead managers showed.
The company said in September this year that its accumulated losses as of August 31 stood at SAR2.689 billion, equivalent to 215 per cent of its paid-up capital.
The rules, which outline the conduct, activities and supervision of credit rating agencies, will help to develop the country’s capital markets.
The middle distillates market was hit by high supplies this year compared to last, which may have affected the term premium.
Bildco posted a loss of Dhs10.8 million ($2.9 million) in the three months to Sept. 30, compared with a loss of Dhs7.7 million in the same period a year earlier.