Saudi Cement pays KD 800,000 for a stake in Global Cement Company in Kuwait

Saudi Cement Company paid KD 800,000 or  40 percent of the paid up capital of  the newly-formed Kuwaiti Global Cement Company, the company said in a statement to the Saudi bourse, Tadawul.

The authorized capital of the company will be KD 10 million or 100 million shares at 100 Kuwaiti fils a share, it added.

The company agreed last year to participate in forming a KD 4 million private cement distribution company in Kuwait