GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap3,935 -0.02
Med Cap3,964 0.60
Small Cap5,142 0.23
Micro Cap8,645 0.25

Research Reports

Quick Links

Most Viewed News

Most Viewed Companies

Ticker Price Volume
QNBK 146.8 84,219
SIPCHEM 17.19 1,768,707
BKMB 0.38 1,980,276
SABIC 96.61 3,459,123
DIB 5.5 4,143,030
CHEMANOL 6.85 1,427,299
JULPHAR 2.27 43,877

Air Arabia Co

Source: HC Securities & Investment

Multi-Hub Model Adds Value

• Air Arabia announced that it will take Egypt as a third base in a joint venture with Travco Group, which is favorable given Egypt’s attractive demographics and the absence of LCCs in the country.

• We considered three possible scenarios to assess the valuation impact of a multiple hub operation. Our favored scenario, involving adopting a sale-and-leaseback model, implies an upside of 36%.

• We maintain our price target of AED 1.26/share until further disclosure on Morocco and Egypt are made. Despite a more limited upside, we reiterate our “BUY” recommendation given potential added value from the other bubs.

Click here to download the complete report
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?