Kuwaiti state-run Kuwait Investment Authority (KIA) will sell its stake in the UAE cement maker Gulf Cement Company at a public auction, it was reported on May 3, 2004. The authority, which holds some 10 per cent in the Kuwait Stock Exchange (KSE)-listed company, plans to offer its stake at a starting price of some 365 Kuwaiti fils ($1.24) per share. Gulf Cement ( www.gulfcement.ae) is based in the emirate of Ras al-Khaimah and is also listed on the Abu Dhabi Securities Market (ADSM). The company’s net profit surged 364 per cent year-on-year to 35.7 mln UAE dirhams ($9.7m) for the first quarter of 2004. Published under Cement News
Kuwaiti state-run Kuwait Investment Authority (KIA) will sell its stake in the UAE cement maker Gulf Cement Company at a public auction, it was reported on May 3, 2004. The authority, which holds some 10 per cent in the Kuwait Stock Exchange (KSE)-listed company, plans to offer its stake at a starting price of some 365 Kuwaiti fils ($1.24) per share. Gulf Cement ( www.gulfcement.ae) is based in the emirate of Ras al-Khaimah and is also listed on the Abu Dhabi Securities Market (ADSM). The company’s net profit surged 364 per cent year-on-year to 35.7 mln UAE dirhams ($9.7m) for the first quarter of 2004. Published under Cement News
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