{"id":109052,"date":"2025-11-03T00:00:00","date_gmt":"2025-11-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-alpha-dhabi-to-sell-stake-in-aldar-were-paying-less-at-the-pump-in-november\/"},"modified":"2025-11-03T00:00:00","modified_gmt":"2025-11-03T00:00:00","slug":"this-morning-alpha-dhabi-to-sell-stake-in-aldar-were-paying-less-at-the-pump-in-november","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/11\/03\/this-morning-alpha-dhabi-to-sell-stake-in-aldar-were-paying-less-at-the-pump-in-november\/","title":{"rendered":"THIS MORNING: Alpha Dhabi to sell stake in Aldar? + We\u2019re paying less at the pump in November"},"content":{"rendered":"

Good morning, friends, and happy November. <\/strong>The oil and gas theme of the week is already kicking into gear as Abu Dhabi\u2019s Enact Majlis wraps ahead of the kickoff of Adipec this morning in the capital, with the majlis seeing plenty of US and UAE cooperation. We expect a lot more oil and gas news throughout the week as the world\u2019s biggest oil and gas event gets underway. <\/p>\n

We also have an update on Amanat\u2019s education unit\u2019s IPO on Tadawul<\/strong>, with the firm set to raise up to USD c.USD 160 mn from the IPO. Plus:<\/strong> Abu Dhabi and Dubai\u2019s bourses have both snapped a two-month losing streak in October. We break down what underpinned performance in the Capital Markets section, below. <\/p>\n

Meanwhile, Abu Dhabi\u2019s inflation inched up in September<\/strong>, though a decline in transport prices has kept it in check. <\/p>\n

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\u26c5WEATHER- Expect a few more clouds this week: <\/strong>Cloudy conditions with chances of scattered light rainfall are expected this week, according to the National Center of Meteorology (pdf). Dubai will see a high of 33\u00b0C, with an overnight low of 24\u00b0C, while Abu Dhabi could see a high of 33\u00b0C and a low of 25\u00b0C. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- <\/strong>M<\/strong>ore Aldar shares could soon hit the ADX, courtesy of Alpha Dhabi: <\/strong>Alpha Dhabi Holding is reportedly weighing a partial sale of its 26.5% stake in ADX-listed developer Aldar Properties that could raise about USD 400 mn as soon as this year, Bloomberg<\/a> reports citing people it says are familiar with the matter. The company, a subsidiary of state-linked International Holding Company (IHC), reportedly intends to float a 2% stake in Aldar on the Abu Dhabi bourse (ADX) after initially considering a larger divestment against a backdrop of surging real estate prices and a wave of follow-on share sales here at home. <\/p>\n

ICYMI- <\/strong>IHC, the largest ADX-listed company, has been reducing its exposure to real estate assets in Abu Dhabi. Just last week, Alpha Dhabi and IHC Real Estate sold the parent company\u2019s entire 42.5% stake in Modon<\/a> to Abu Dhabi government-owned L\u2019imad Holding for AED 26.3 bn, as part of a broader portfolio review aimed at capping sector exposure at 20%. The conglomerate said it will recycle proceeds from the sale into healthcare, tech, energy, food, and financial services.<\/p>\n

Market r<\/strong>eax<\/strong>:<\/strong> Aldar Properties stock shed 3.8% to close at AED 9 on Friday.<\/p>\n

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<\/a> #2- <\/strong>Emirates<\/a><\/strong>NBD<\/a><\/strong> is looking to establish an investment bank in India<\/strong>, Bloomberg<\/a> reports, citing people with knowledge of the matter. The bank reportedly aims to hire 15 bankers in the country by mid-2026 and is looking to snap up employees currently working for other global firms in India.<\/p>\n

The plan:<\/strong> One source said that the lender has already applied for an investment banking license for Emirates NBD Capital and secured prime office space in Mumbai. Expansion into advisory, debt capital markets, and equity underwriting is also in the cards.<\/p>\n

USD 3 bn already in the game: <\/strong>Two weeks ago<\/a>, the bank agreed to acquire a 51-74% stake in RBL Bank through a USD 3 bn preferential share issuance. Should the takeover secure regulatory clearance, it would be the largest foreign investment in India\u2019s financial sector and its biggest bank equity raise on record.<\/p>\n

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#3- <\/strong>SIB<\/strong> taps joint lead managers for possible sukuk offering: <\/strong>Sharjah Islamic Bank (SIB) has appointed our friends at Mashreq Bank, along with Ajman Bank, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered Bank as joint bookrunners and lead managers for a possible benchmark Reg S, USD-denominated sukuk offering, according to an ADX disclosure (pdf)<\/a>. The lender, rated A- by S&P Global and BBB+ by Fitch, said any offering would be subject to market conditions.<\/p>\n

BACKGROUND- <\/strong>Earlier this year<\/a>, the bank listed a benchmark USD 500 mn additional tier one sukuk offering on Euronext Dublin and Nasdaq Dubai. The perpetual non-call six-year issuance attracted over USD 1 bn in orders, and saw its yield tightened to 6.125% from initial price thoughts of 6.5%.<\/p>\n

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#4- Fourth<\/strong> round of UAE<\/strong>-EU FTA negotiations to kick off next month: <\/strong>The UAE and the European Union are set to begin the next round of their trade agreement negotiations next month, The National<\/a> reports, citing European Council President Ant\u00f3nio Costa. The parties have held three rounds since they kicked off negotiations in April<\/a>.<\/p>\n

REFRESHER- <\/strong>An agreement would aim to reduce trade barriers and tariffs, while boosting cooperation in key sectors such as advanced manufacturing, healthcare, logistics, and AI. The EU is the UAE\u2019s second-largest trade partner, logging USD 67.6 bn in non-oil trade in 2024. <\/p>\n

PSAs- <\/p>\n

<\/a> #1- Fuel prices dip in November:<\/strong> The Fuel Price Committee has lowered petrol and diesel prices by up to 5.6% this month, according to a post on X<\/a>. The move follows October\u2019s<\/a> price hikes across the board. <\/p>\n

Here\u2019s the new breakdown per liter:<\/strong><\/p>\n