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Aabar makes offer to shareholders

13 July 2010

Aabar Investments has offered stake holders Dhs1.45 (40 cents) a share as the Abu Dhabi-based firm prepares to delist from the emirate's bourse, Bloomberg has reported. "It's an exit offer, which is better than no offer," Akram Annous, deputy fund manager at Al Mal Capital said. "If the market was valuing the company differently, then they probably wouldn't be seeking to delist." Aabar received approval from the market regulator to postpone to August 8 a shareholder meeting set for July 26 to approve a conversion into a private joint-stock company.

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