Abu Dhabi – Mubasher: The stock of Sudan Telecommunication Company “Sudatel”, the main telecommunications operator in Sudan, topped the Abu Dhabi Securities Exchange’s (ADX) gainers on Sunday by 11:40 am UAE time, after most of the sanctions imposed against Sudan were lifted.
The stock surged 15% to AED 0.69, marking the most active trading since the beginning of June 2017.
Sudatel’s wide-ranging business includes installation, maintenance, and operation of the telecommunication infrastructure.
In the meantime, the ADX’s trading volume reached 4.5 million shares, generating AED 4.9 million through 182 transactions.
On Friday, the US lifted several economic and commercial sanctions that were imposed against Sudan 20 years ago.
