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DFM suspends trading on DSI’s stock

DFM suspends trading on DSI’s stock
DSI’s losses reached AED 662.9 million from January to September
Drake & Scull
DSI
-2.63% 0.37 -0.01

Dubai – Mubasher: The Dubai Financial Market (DFM) on Thursday announced that it has suspended trading on Drake and Scull’s (DSI) stocks until further notice.

The bourse has the right to suspend trading on any shares in some exceptional cases including threatening the market’s performance, according to the DFM’s statement.

The suspension decision is in line with the cabinet’s decree of halting trading on the shares of any company in case of losing 50% of its capital.

The UAE-based developer’s losses reached AED 662.9 million from January to September, down from AED 1.22 billion in the same period of the prior year.

On Wednesday, DSI, the regional provider of engineering and construction services, announced hiring new international advisors to implement a fresh restructuring process, along with setting up a full-fledged operational and fiscal plan in collaboration with the restructuring committee formed recently.