Abu Dhabi –  The Capital Markets Authority (CMA) greenlighted the request of Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) to delist its shares from Boursa Kuwait.

Trading on the company's shares will halt on 8 December 2023, as the last day of trading will be 7 December, according to a bourse filing.

It is worth noting that the CMA passed RAK White Cement’s withdrawal from Boursa Kuwait on 4 June, while the company's board granted its approval last September.

In the first quarter (Q1) of 2023, the listed firm logged net profits amounting to AED 620,099, an annual plunge from AED 16.31 million.

Sales grew to AED 66.66 million in Q1-23 from AED 64.10 million in Q1-22, while the basic earnings per share (EPS) retreated to AED 0.001 from AED 0.033

Last year, the net profits of RAK White Cement hit AED 21.08 million, lower than AED 32.87 million in 2021.

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