The Abu Dhabi equity market index ADXGI advanced by one per cent to close at 5,054.95 points on Thursday, July 31.
National Takaful or Watania gained 14 per cent to reach AED1.14. The Islamic insurance operator said in a filing to the bourse last Sunday that investors in the GCC were planning to buy a majority stake into the firm. Watania has been advised of the plans by a financial broker “representing majority shareholders” who agreed on the move.
Ajman Bank has the biggest stake in Watania. The UAE lender holds 5.75 per cent in the firm, according to data available on the ADX website.
Thursday, July 31- 2014 @ 16:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.