Abu Dhabi – Mubasher: Invest Bank on Thursday announced acquiring a stake in Ras Al Khaimah Cement Company (RAK Cement).
The acquisition, which involved 155 million shares, was done by the bank on behalf of A & K International Investment LLC, Invest Bank said in a filing to the Abu Dhabi Securities Exchange (ADX).
Invest Bank did not disclose the value of the acquisition, but said that its stake in the Abu Dhabi-listed cement company has now reached 27.73%.
RAK Cement’s stock closed Thursday at a rise of 1.28% to AED 0.79, after 2.35 million shares were traded at a turnover of AED 1.84 million.
