Al Rajhi Partners ups stake in RAK Ceramics
RAS AL KHAIMAH, June 16, 2021
RAK Ceramics, a leading ceramics brand based in Ras Al Khaimah, UAE, has announced that one of its key shareholders, Limestone Company, has sold its entire 6.41 per cent stake in the company to Al Rajhi Partners.
With this acquisition of the entire 63.6 million shares from Limestone, Al Rajhi Partners' shareholding in the top ceramics company has risen to 8.32 per cent, said RAK Ceramics in its filing to the Abu Dhabi Secuties Exchange (ADX).
One of the largest ceramics brands in the world, RAK Ceramics is a specialist in ceramic and gres porcelain wall and floor tiles, tableware, sanitaryware and faucets.
This is the second stake sale involving RAK Ceramics as in late May, another of its investors, Samena Limestone Company had sold its entire 17.55% share capital to Falcone Investments.-TradeArabia News Service
