Aabar’s statement followed media reports last week that said the fund was in talks to buy at least part of the 28.85 per cent stake owned by Arabtec’s former chief executive Hasan Ismaik.
Net profit fell to SAR7.91 million ($2.1 million) in the three months to June 30 from SAR25.38 million a year earlier, the company said in a statement.
The economic rebound seen both locally and internationally has seen deal-making revived in the last two years, with many now divesting stakes and looking for new opportunities.
The Securities and Commodity Authority said a new “technical committee” would ensure the integrity of share trading and prevent any manipulation of stock prices.
On Thursday, the Dubai bourse said it was suspending trade in Arabtec pending clarification on media reports about strategic partners’ stake in the firm.
The bank made a quarterly profit of OMR46.6 million ($121 million) in the second quarter compared to OMR38.1 million in the corresponding period of 2013.
The company made a net profit in the three months to June 30 of SAR513.3 million ($136.9 million), compared with SAR387.8 million in the same period a year earlier.
Masraf said the sale price would be QAR1.53 billion ($420.3 million), which would generate a gain of QAR466 million for the bank spread over three years.