Samena Limestone Co. sold its entire shareholding in RAK Ceramics -- amounting to over 174 million shares -- to Falcone Investments LLC.
The stake sale, which represented 17.55 percent of RAK Ceramics’ share capital, takes Falcone Investments’ shareholding to 20.40 percent of the total share capital, the Sharjah-based ceramics and tiles manufacturer said in a filing Thursday to Abu Dhabi Exchange, where its shares trade.
The value of the stake sale was not disclosed. RAK Ceramics stock fell nearly 5 percent to 1.96 dirhams ($0.53) in Wednesday’s trading.
(Writing by Brinda Darasha; editing by Daniel Luiz)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
