Eastern Cement pays SAR 81.56 mln for 5.44% stake in TAQA’s capital raise

24/05/2015 Argaam

Eastern Province Cement Co. said in a bourse statement that it has paid SAR 81.56 million for a 5.44 percent stake in the capital raise of Industrialization & Energy Services Co. (TAQA).

 

Last November, TAQA’s extraordinary general meeting (EGM) raising the company’s capital from SAR 2 billion to SAR 5 billion.

 

Eastern Cement’s payment for the transaction has been financed from the company’s internal resources.

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