UAE .. Gulf Cement stock has risen to the highest price for 40 months

The shares of the Gulf Cement included and traded on the Abu Dhabi Stock Exchange increased by 0.84% ​​at the end of the session today, Wednesday, to circulate at the price of 0.72 dirhams per share.

The trading on the share of Gulf Cement came at the end of today’s session through 47 trading operations, at 431.94 thousand shares with a value of trading 309.7 thousand dirhams.

The highest price of the share was at the end of today’s transactions at 0.75 dirhams, while the lowest price was at 0.7 dirhams.

The stock touched the highest price in 40 months (3 years and 4 months).

This comes with the company’s anticipation of the company’s shareholders to hold a general assembly on Thursday, April 17, during which it discusses acceptance of a cash offer from TC Mina Holdengel to extend to the acquisition of a share of 100% of its shares, provided that the acquisition is minimal than the shares by more than 50% of the ordinary and paid shares of the company, and also discusses not distributing profits for the fiscal year 2024.

The Board of Directors of the Gulf Cement believes that the offer submitted by TC Mina Holdengal is an appropriate and reasonable stretch.

The offer includes the acquisition of 256.33 million shares at a price of 0.56 dirhams per share, with a total value of 143.55 million dirhams.

Gulf cement is a public joint stock company based in Ras Al Khaimah, United Arab Emirates, and was established in 1977, and focuses on the production and distribution of cement and building materials. The company is one of the most prominent companies in the cement sector in the region, as it seeks to meet the needs of the local and regional market through high -quality products.

Gulf Cement Company has been included in the Abu Dhabi Securities Market since January 1990 and has been working to enhance its position in the market through innovation and sustainability, with a focus on providing integrated construction solutions.