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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Dana Gas Co PJS    DANA   AED000701014

DANA GAS CO PJS (DANA)
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Dana Gas PJS : exposure to Abraaj not major – IR head

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07/12/2018 | 06:30pm CEST

Dana Gas’ operational activities will not be affected by its exposure to Abraaj

Dana Gas DANA 1.96% 1.04 0.02

By: Mahmoud Gamal

Abu Dhabi – Mubasher:Dana Gas’ operational activities will not be affected by its exposure to The Abraaj Group, Dana’s head of investor relations Mohammmed Mubaideen told Mubasher.

He described the impact of the exposure as being “very limited.”

Dana Gas’ investments in Abraaj Capital amount to $6 million and are invested in an infrastructure fund affiliated to Abraaj and managed by Abraaj Investment Management Limited, Mubaideen revealed.

Since money misuse allegations erupted at Abraaj’s $1 billion healthcare fund, a host of companies disclosed the level of their exposure to the investment firm.

The UAE’s Securities and Commodities Authority (SCA) also issued a circular requesting that companies issue statements with this information to their respective bourses.

The SCA’s deadline ends Thursday. So far, 30 Dubai-listed companies have said that they had no ties to or investments with The Abraaj Group.

On the Dubai Financial Market (DFM), Air Arabia disclosed $336 million in exposure, while Mashreq Bank and the Commercial Bank of Dubai (CBD) revealed, earlier on Thursday, exposure of around AED 66.5 million and $166m, respectively.

In May, The Abraaj Group filed for bankruptcy and a court-supervised restructure, both of which were approved in June.

Analysts previously told Mubasher that companies’ disclosures of the level of their exposure to Abraaj would boost investor confidence in the markets.

By the end of Wednesday, the number of companies that have so far disclosed their exposure, or lack of it, to The Abraaj Group has risen to 89 firms.

Translated by: Nada Adel Sobhi

Source: Mubasher Exclusive

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2018 1 825 M
EBIT 2018 621 M
Net income 2018 343 M
Debt 2018 525 M
Yield 2018 6,18%
P/E ratio 2018 23,69
P/E ratio 2019 18,11
EV / Sales 2018 4,61x
EV / Sales 2019 4,32x
Capitalization 7 884 M
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Number of Analysts 1
Average target price 0,72  AED
Spread / Average Target -36%
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Managers
NameTitle
Patrick Adrian Allman-Ward Chief Executive Officer
Hamid Dhiya Jafar Chairman
Christopher James Hearne Chief Financial Officer
Iman Hill Technical Director & General Manager-UAE
Sultan bin Ahmed bin Sultan Al-Qasimi Non-Independent Non-Executive Director
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