Hassan Ismaik, former CEO of Dubai’s based Arabtec has trimmed his stake in the group this week, according to Dubai bourse data published on Thursday.

Ismaik cut his stake to 28.77% from 28.85%, selling about 3.52 million shares worth AED 14 million at Wednesday’s closing stock price.

Abaar Investment, the second biggest shareholder in Arabtec and a possible buyer of Ismaik’s stake, said earlier last week that it was studying different options but that any negotiations would be confidential.