Logos of Qassim Cement Co. and Hail Cement Co.
Qassim Cement Co. (QCC)issuedtoday, May 20,theshareholder circular, the offer document, and the timetable for the planned acquisition of Hail Cement Co. (HCC), according to a statement to Tadawul.
Last week, theCapital Market Authority (CMA) approvedQassim Cement’sapplication to increase its capital from SAR 900 million to SAR 1.1 billion by issuing 20.56 million ordinary shares to acquire Hail Cement through a stock exchange offer.
QCC signed a binding agreement with HCC in December 2023. Under the deal, QCC will offer HCC shareholders 0.21 QCC shares for each HCC share to fully acquire the latter by issuing new QCC Cement shares, Argaam’s data showed.
Logos of Qassim Cement Co. and Hail Cement Co.
Qassim Cement Co. (QCC)issuedtoday, May 20,theshareholder circular, the offer document, and the timetable for the planned acquisition of Hail Cement Co. (HCC), according to a statement to Tadawul.
Last week, theCapital Market Authority (CMA) approvedQassim Cement’sapplication to increase its capital from SAR 900 million to SAR 1.1 billion by issuing 20.56 million ordinary shares to acquire Hail Cement through a stock exchange offer.
QCC signed a binding agreement with HCC in December 2023. Under the deal, QCC will offer HCC shareholders 0.21 QCC shares for each HCC share to fully acquire the latter by issuing new QCC Cement shares, Argaam’s data showed.
