Listing offers chance to invest in Emirates' A380s
A new listing on the London Stock Exchange (LSE) offers investors the chance to buy into three Airbus A380 aircraft on a long-term lease to Emirates Airline.
Investment firm Doric Nimrod Air Two (DNA2), will purchase the three jets and lease them to the Dubai airline for a period of 12 years.
Emirates is responsible for insurance and maintenance and repair costs, and investors will be paid out from the residual value of the aircraft when they are eventually sold.
DNA2, set up by Nimrod Capital and Doric Asset Finance, is hoping to pay a quarterly dividend equal to 9 percent per annum based on the issue price of 200 pence a share.
The move follows the launch of DNA1 last year, which invested in one Emirates A380. Those shares are now trading at 110 pence, compared to a launch price of 100 pence.
DNA2 has a market cap of $201m.
Emirates Airline posted a $1.5bn profit in May for the 2010-11 financial year.