Thursday 21, June 2018 by Kudakwashe

SCA asks listed companies to declare exposure to Abraaj

 

Obaid al Zaabi, CEO of SCA, said some companies in the UAE had exposure to Abraaj, without naming them

  

Securities and Commodities Authority has asked UAE-listed companies to declare their exposure to Dubai-based private equity firm Abraaj, which filed for provisional liquidation last week.

The Securities & Commodities Authority sent a letter earlier this week and companies had until Thursday to submit their responses, said Al Zaabi.

Air Arabia, a Dubai-listed low cost carrier, said this week it had a $336 million exposure to Abraaj and shares in the company plunged because of its links to the private equity firm, reported Reuters.

 

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