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Dubai-listed contractor Drake & Scull (DSI) has been awarded AED 36.7 million ($9.99 million) in payment after a Dubai Court judgement against an unnamed major company in the emirates.
DSI, which began trading on Dubai Financial Market (DFM) last week after an absence of more than five years due to restructuring, said in a bourse filing that it had begun taking the necessary steps to execute the award, which includes bank guarantees.
The contractor resumed trading on 29th May, with a reference price of AED 0.25, but opened at AED 0.32, then saw marginal movement and large trade volumes. It closed at AED 0.32 on Wednesday according to LSEG data.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
