Tadawul delists Hail Cement shares

One of Hail Cement's factories

The Saudi Exchange (Tadawul) said that shares of Hail Cement Co. (HCC) were delisted at the end of trading on June 12.

Shareholders of both companies approved Qassim Cement Co.’s (QCC) takeover of HCC on June 10, Argaam reported.

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QCC 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.

HCC announced, on June 11, that its acquisition by QCC is in effect, noting that trading on its shares is suspended until delisting from Tadawul.