Text size:

  • Small
  • Normal
  • Large
Abu Dhabi's general index slipped 0.2 per cent.
Abu Dhabi's general index slipped 0.2 per cent.

Waha Capital shares rocket on aerospace bond offering terms

Investors welcome $1.5 billion bond's terms.

Waha Capital shares shot higher yesterday as investors welcomed the terms of the bond offering for the company's aerospace unit. Waha Aerospace, based in the Netherlands, plans to raise bonds worth US$1.5 billion, which will be guaranteed by the Abu Dhabi Government. Moody's assigned the proposed bonds an "Aa2" debt rating. Waha Capital shares rose 6.9 per cent to 62 fils yesterday on the Abu Dhabi Securities Exchange (ADX).

"The way the stock traded today, it was apparent that retail traders took advantage of the information on the bonds to push the stock higher," said Hassan el Salah, the head of institutional trading at AlRamz Securities based in Abu Dhabi. The ADX General Index dipped 0.2 per cent to 2536.10 yesterday. Aabar Investments shares jumped another 2.1 per cent to Dh1.93, two fils away from the price at which Aabar's majority shareholder, IPIC, plans to purchase the shares of minority holders.

The Dubai Financial Market General Index closed up 1.4 per cent at 1,531.36, its largest gain in two weeks. Gulf Navigation Holding shares jumped 2.4 per cent to 49 fils. The company reported second-quarter net income of Dh23.5 million, compared with Dh3.8m for the same period last year. Elsewhere in the region, Kuwait's measure moved up 1.1 per cent to 6,567.00. Bahrain's index dropped 0.1 per cent to 1,403.12 and Oman's bourse dropped 0.8 per cent to 6,172.67.

Qatar's index moved up 0.3 per cent to 6,957.38 and the Saudi Tadawul All-Share Index ended its trading week up 0.35 per cent to 6,089.95. halsayegh@thenational.ae

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 A sign points the way to an outdoor market popular with German visitors on the Polish side of the German-Polish border. Sean Gallup / Getty Images

In pictures: A decade since the European Union went east

May 1 will mark 10 years since the European Union expanded east, taking in countries like Poland, the Czech Republic and the Baltic states as new members. And though the border region between Germany and Poland is flourishing with trade and cultural exchange, the open border has also brought a sharp rise in crime.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National