41st public joint stock company listing on DFM

DUBAI, October 4, 2006: Dubai Financial Market (DFM) today (October 4, 2006) announced the listing of Aerated Concrete Industries Company, a leading player in production of aerated concrete, non-concrete and construction requirements. The company is listed on Kuwait Stock Exchange.

Incorporated in Kuwait, Aerated Concrete Industries Company'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.

Aerated Concrete Industries Company is the 41st company to list its shares on the DFM and the 59th listed security on the market. The company is classified within "Industry" sector which includes 5 public joint stock companies now. 

The company's shares will start trading today (October 4, 2006) under the trading symbol (ACICO) that will appear on DFM screens, trading systems and publications.

The listing of ordinary shares of ACICO's has been finalised and approved by DFM in collaboration with ESCA. Foreign investors are allowed to acquire a maximum of 15 per cent of ACICO's shares. Its paid-up capital amounts to KD 14.6 million.

Essa Kazim, Director General of DFM said: "DFM welcomes ACICO which makes its debut today. 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, Aerated Concrete Industries Company, said: "ACICO is delighted to list on DFM. The UAE in general and Dubai in particular, are globally recognised as attractive centres 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."

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About ACICO
Aerated Concrete Industries Co. K.S.C. (Closed) was incorporated on June 23, 1990 as a Kuwaiti Closed Shareholding Company.

The main objectives of the Company include the establishment of a factory for the production of all types and sizes of aerated concrete and non-concrete and all its construction requirements, import and export of all building materials.  The Company is considered the sole agent in the Middle East for manufacturing 'Hebel' international products.

The Company's objectives also include owning, buying and selling real estates, land and lands for development for the benefit of the Company either inside or outside Kuwait, dealing in industrial companies' shares and bonds relating to the main objective of the Company for the benefit of the Company only either inside or outside Kuwait, preparing and submitting the studies and consultancy and also organizing the industrial exhibition for the Company's projects.

About Dubai Financial Market
Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.

For further information, please contact:
Bakul Gala / Tarek Fleihan
Mobile: 2459547 / 5198511
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
E-mail: b.gala@asdaa.com, t.fleihan@asdaa.com

© Press Release 2006