June 21, 2018 / 1:23 PM / 3 months ago

UAE regulator asks listed companies to declare exposure to Abraaj

DUBAI, June 21 (Reuters) - United Arab Emirates’ top security regulator 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, Obaid al Zaabi, chief executive of the regulator told Reuters.

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

Al Zaabi said some companies in the UAE had exposure to Abraaj, without naming them. (Reporting by Stanley Carvalho and Davide Barbuscia; Editing by Mark Potter)

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