DUBAI, 5 October 2006 -- Aerated Concrete Industries Company (ACICO) started the trading of its shares at Dubai Financial Market (DFM) yesterday.
ACICO, on the leading player in production of aerated concrete, non-concrete and construction requirements, is listed on Kuwait Stock Exchange.
Foreign investors are allowed to acquire a maximum of 15 percent of ACICO's shares. Its paid-up capital amounts to 14.6 million Kuwaiti dinars.
Incorporated in Kuwait, ACICO's plants are located in Shuaibah Industrial Area in the State of Kuwait, UAE, Qatar, and Saudi Arabia. Heavy duty, light weight building units of reinforced and non-reinforced concrete are manufactured with the most advanced autoclaves using basic raw materials such as quartz sand, cement, and lime.
Essa Kazim, director general of DFM said: "DFM welcomes ACICO which makes its debut. Many companies from the region have been listed since the beginning of this year and many more have expressed their interest to debut soon. This listing will give ACICO access to a good investor base and will also add diversity to our investor's portfolio." Ghassan Ahmad Sauod Al-Khalid, chairman & managing director, ACICO, said: "ACICO is delighted to list on DFM.
The UAE in general and Dubai in particular, are globally recognized as attractive centers for business investment and trading in the region. The decision to list on DFM came in compliance with the company's strategy aimed at expanding, growing and achieving sustainable benefits for our shareholders."
By K.T. Abdurabb
© Arab News 2006
