Jewelry group Damas soars after bidders put their cards on the table-continued

March 28, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed at 1698.390 today, up 1.78%, from the previous close.
Global port operator DP World continued its up-and-down trading and added 1.31% to reach $11.58. Depa Limited, the interior designer firm which was responsible for the inner beauty of the world's tallest tower Burj Khalifa (828m), ended even. Dubai-based jewelry giant Damas International jumped 3.66% to close at $0.425. Earlier in the day, Mannai Corporation of Qatar and Egypt's investment EFG-Hermes made a joint cash bid for Damas, valuing the firm at $445m, The National reported. While Mannai already announced its intention for a takeover in January 10 this year, the offer price of $0.45 per share represents a 45% premium compared to the closing before the aforementioned date.

Source: AME Info

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