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Devesh Mamtani

Devesh Mamtani latest

Who Are the Biggest Losers of Arabtec's Liquidation?
October 11th, 2020 - 09:30 GMT

Who Are the Biggest Losers of Arabtec's Liquidation?

Nothing would left for the shareholders of construction firm Arabtec after it announced liquidation as its net asset value (NAV) is negative. Total assets of Arabtec stand at Dh7.379 billion while total liabilities are Dh10.137 billion. "For all practical purposes, the NAV of Arabtec seems negative and shareholders are likely to see their shares expire worthless," said Devesh Mamtani, chief market strategist at Century Financial. He said Arabtec shareholders are ...
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