DSI confirms Tabarak remains ‘strategic investor’

Dubai: Drake and Scull International (DSI) said on Monday that Tabarak Investment’s stake in it is at 13.26 per cent, and that Tabarak “will continue to be a strategic investor.”

DSI said in a statement to the Dubai bourse that Tabarak owns over 142 million shares in DSI.

It added that changes in the ownership of Tabarak Investment in DSI are “a result of the margin calls executed by financial institutions during the month of July 2018, which instigated the sale of DSI shares under the terms of a financing agreement.”