Hasan Ismaik intends to sell its shares in Arabtec Holding P.J.S.C. (DFM:ARTC). Hasan Ismaik plans to sell its 11.8% stake in Arabtec, a source with knowledge of the matter told Reuters. However, he will only offload the shares f he is paid a significant premium.

"Ismaik will not sell the shares in the market which is still weak. But if he gets an offer at a good price, he will sell," the source said, declining to be named due to the sensitivity of the issue. Asked if AED 5 per share was a good price, the source said "that is the minimum".

Construction Weekly added that Ismaik did not respond to calls seeking comment. An Aabar spokesman declined comment when asked if the company would consider buying Ismaik's remaining stake in Arabtec.