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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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Posted by Anne-Birte Stensgaard, Senior News Editor
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