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Dana Gas dives ahead of sukuk pay-day
- United Arab Emirates: Tuesday, October 30 - 2012 at 13:47
The Abu Dhabi euqity benchmark ADX General Index added 0.06% Tuesday, closing at 2,672.48 points. Shares of Sharjah-based Dana Gas dived 4.26% to hit Dhs0.43, representing the same price level like at the start of the year. Earlier in the day, The National reported that Crescent Petroleum which as a majority shareholder has a 21% stake in Dana Gas is not ready to bailout the firm. Dana Gas must settle an Islamic bond at 3.37 billion Dirham (919 millin U. S. dollars) par value on Wednesday, October 31.
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Gérard Al-Fil, Financial JournalistTuesday, October 30 - 2012 at 13:47 UAE local time (GMT+4)
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