Waha Capital soars on hedging of AerCap investment
In Abu Dhabi, the ADX General Index ended one per cent higher at 5,180.71 points on Wednesday, September 3.
Waha Capital surged by 3.40 per cent to reach AED3.05. Earlier in the day, the leasing specialist said it entered into a hedging transaction on half of its shares (approximately 14.9 million) in New York-listed AerCap Holdings N.V. (AerCap), the world’s largest independent aircraft leasing company.
Through the transaction, Waha said it has locked in the value of these shares at a minimum price of $42.39 per share up to a cap of $61.23 per share, subject to certain adjustments.