Dubai – Mubasher: Arabtec Holding has set the opening price of its rights issue at 1 fils as a minimum price through all of its trading sessions, according to a statement.

The rights issue will be free-floated on its inaugural day only, while the price movement will be in line with DFM’s fluctuation range of 15% up and 10% down from day two until the end of the trading period.

The rights issue of Arabtec will be tradable on the exchange between 15 and 21 May.

“The rights are distributed amongst shareholders in proportion to the number of shares they own and shall be recorded in their accounts," the developer said, adding that “it shall be recorded in their accounts with clearing if the original shares were recorded with the clearing house”.