Aldar Properties PJSC rose the most in more than eight months as investors expect government support for Abu Dhabi’s largest developer to be “shareholder friendly,” Daman Investments PSC said.
The shares gained 7 percent, the most since March 28, to 2.45 dirhams at the 2 p.m. close in Abu Dhabi. Aldar has lost 51 percent this year.
“We have said before we will give the framework in the fourth quarter,” Chief Financial Officer Shafqat Ali Malik said in a telephone interview today, declining to provide details. Aldar said Nov. 9 it is in the “final stages of discussions” with the Abu Dhabi government regarding the company’s funding requirements and expects to reach a “framework” by the end of the year.
No comments:
Post a Comment