UAE-based producer Fujairah Cement Industries is marking its last day of trading on Boursa Kuwait today.
The company has already obtained the approval of Capital Market Authority-Kuwait for the voluntary withdrawal of its shares from the Kuwaiti stock market, according to a disclosure on the Abu Dhabi Securities Exchange (ADX).
“November 30, 2022 will be the last day for trading the company’s shares in Boursa Kuwait. In this regard, [the company] would like to inform its existing shareholders in the Kuwait state (if they so desire) to open an investor account with Abu Dhabi Securities Exchange and transfer their shares for trading,” the company said.
Fujairah Cement reported a loss of more than 15.4 million dirhams for the first quarter of the year ($4.19 million) as revenue plunged 31 percent to 87.6 million dirhams due to a decline in cement and clinker sales, as well as lower average cement prices.