Edaa increases Qassim Cement’s shares after HCC acquisition

Qassim Cement's plant

The Securities Depository Center Co. (Edaa) applied the increase in the number of Qassim Cement Co.’s (QCC) shares, after the acquisition of Hail Cement Co. (HCC) through share swap deals to the accounts of eligible shareholders today, June 11, according to a Tadawul filing.

Shareholders of both companies approved Qassim Cement’s takeover of HCC on June 10.

Qassim Cement’s shareholders also approved raising the company’s capital to SAR 1.10 billion from SAR 900 million to fully acquire the 97.9 million shares of HCC.

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The Saudi Exchange (Tadawul) delisted HCC’s shares by the close of trading on June 12.