Abu Dhabi – Mubasher: Dana Gas’ stock rose in the Abu Dhabi Securities Exchange (ADX) on Monday following the company’s announcement of receiving AED 146.8 million ($40 million) dues from the Egyptian government.
By 12:50 pm UAE time, the stock added 1.87% to AED 1.09 after 26.76 million of Dana’s shares were traded, generating AED 29.36 million.
With this payment from Egypt, the company’s total receipts reached nearly $90 million for the first half of the year, CEO of Dana Gas Patrick Allman-Ward said.
