FOREIGN STAKE IN ICL COMES DOWN 50%
Article Abstract:
The holding of foreign investors in India Cements Ltd (ICL) has come down by about 50 percent to 9.33 percent. The GDR holders have offloaded their stakes after the company acquired Raasi Cements and announced its 1:1 rights issue. Many of the GDR holders have converted their stake into equity shares and sold them in the domestic market, which in turn, have been acquired by financial institutional investors and Mutual funds. The promoters of ICL have also acquired a small quantity of 221,550 shares and slightly increased their stake in the company. Financial institutions now hold a 34.03 percent stake in the company while the promoters hold 32.28 percent. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TO OPERATE SAUDI CEMENT CO
Article Abstract:
Associated Cement Companies (ACC) has won a contract to operate and manage the 4 million tonnes Yanbu Cement Company (YCC) in Saudi Arabia. It will not be given any equity stake in the company but its management fee will come from earnings of the unit. ACC has been operating and managing YCC for the last 18 years and the contract is renewed every three years. ACC has deployed about 660 of its personnel at YCC. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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