Dubai Investments hits 11-month high on sukuk, expansion plans
- United Arab Emirates: Wednesday, February 20 - 2013 at 14:08
The DFM General Index closed 0.44% higher at 1,922.87 points Wednesday on tailwinds from Asia where markets consolidated above an 18-month high. Shares of Dubai Investments surged 1.92% to hit Dhs0.955, the highest level since March 2012. Earlier in the week DIC CEO Khalid Bin Kalban told Arabian Business the 32 firms comprising conglomerate eyes launching a Dhs1bn Islamic bond in order to pay off debt and finance future acquisitions. It was one of the rare trading sessions where Emaar (up 0.40% at Dhs5.01) was not the most liquid share as district coolling speacialist Tabreed took over (gaining 1.20% at Dhs1.69). Turnover soared further as 350m shares were traded, valued at Dhs525.6m.
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