RAK Ceramic soars as Samena Limestone buys 30 per cent stake
The Abu Dhabi market index (ADXGI) fell by 0.37 per cent to close at 5,071.61 points on Tuesday, April 29. Ras Al Khaima (RAK) Ceramic Company jumped 1.57 per cent to hit AED3.89. Earlier in the day, the biggest producer of ceramic products in relation to output revealed in a filing to the market that His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, sold 250,000 shares to Samena Limestone, a Cayman-incorporated investment fund. The number of shares represents 30.58 per cent of the firm’s share capital.