UAE: RAK Cement buys back 3.8% to subscribed capital

Ras Al Khaimah Cement Co said on Wednesday it has purchased 3.816 per cent of the stake or 30 million shares at Dh0.83 per share.

The purchase was done through Al Ramz Capital, the company said in a statement posted on Abu Dhabi Securities Exchange’s website.

RAK Cement is capable of producing 960,000 tonnes of clinker and 1 million tonnes of cement per year, and employs 150 employees, according to the website. The plant is connected to a terminal inside the adjacent Saqr Port, which has the capacity to load ships up to 40,000 deadweight tonnage (dwt).