The newest of Saudi Arabia s Cement Companies to be quoted on Saudi Arabias stock exchange, City Cement, announced a 31% increase in net profits for the nine months to September 30 to $53.2m (SR: 199.45m). The Riyadh-based company floated 50% of its shares on Tadawul earlier this month with a view to raising more capital to expand. The firm became the 12th cement company to list on Tadawul, and the 157th stock overall to trade on the market. The IPO, which was arranged by was Riyad Capital, was oversubscribed. City Cement said that net profit for its third quarter was up by 2.2% to $10.4m Source: uaecement
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http://www.uaecement.com/newsDetail.aspx?id=689
