Tabreed share price leap stumps analysts


06/03/2012 09:34 AST  Gulfnews

The astronomical rise in Tabreed's share price has led to confusion over what is driving intense buying interest in the Abu Dhabi-based utilities firm.

Tabreed, which is also known as the National Central Cooling Company, has seen its stock value gain 427 per cent from its low on January 16 — the company's share price has risen from 40 fils to Dh2.13 in seven weeks — although the reasons behind the surge are unclear.

Several listed companies — including construction firm Arabtec — have experienced significant upwards movement in recent weeks as the Dubai Financial Market continues its bull run. However, such large swings tend to create speculation as analysts and investors look for answers.

"Market rumours hint that Tabreed buyers are similar to Arabtec, with strategic buyers building positions in the company using various entities to stay below the five per cent declaration threshold set by the Securities and Commodities Authority law," Mohammad Ali Yasin, a capital markets specialist based in the UAE, said.

For more on this Click Here

National Central Cooling Co. - TABREED
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV
Most Viewed Companies
Ticker Price Volume
EEC 56.2 4,606,133
EMAAR 11.15 83,172,166.5
EXTRA 107.98 37,553
NWRS 0.75 854,602
TAWUNIYA 65.41 1,431,714
RIBL 18.72 284,383
RJHI 62.48 1,924,110
Recent News

Rak Properties awards Al Tameer contract for villas
Rak Properties, one of the biggest property developers listed on the Abu Dhabi Stock Exchange, has announced that Al Tameer Group has been awarded a contract for the construction of its residential p

No price hike: Emaar's Dubai Creek towers at Dh1,850 psf
Emaar Properties and Dubai Holding, developers of Dubai Creek Harbor at The Lagoons, did not hike sale prices during the launch of their second and third tower of Dubai Creek Residences, real estate

CBO TO ISSUE RO200MN IN DEVELOPMENT BONDS
The CBO is preparing to launch a RO200mn government development bond (GDBs) issue. H E Hamood al Zadjali, executive president of CBO, said on Thursday that the central bank will announce the bond iss

Thirst for Shariah-abiding beer shows promise of halal stocks
Eight years ago, Taleb Mohamad Almahmoud started importing a non-alcoholic beer popular in the Middle East to Malaysia. Now, he is bringing more than 300,000 bottles of Dubai-brewed Barbican into the

$500 million Sukuk bonds: Dar in Dubai to hold roadshow
Finance Minister Ishaq Dar left for Dubai on Saturday to hold roadshow to float $500 million Sukuk bonds in the international market, sources said. Sources added the Finance Minister after holding a

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?