Update: Raysut Cement says the transfer of Sohar Cement shares under preparation

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15 May 2019

Muscat (WAF): The procedures of Raysut Cement Company SAOG acquisition of Sohar Cement Factory LLC shares are and the transfer of the ownership of the shares are still under preparation, Raysut said today in a disclosure.

Following a disclosure to Muscat Securities Market (MSM) in February, sources told WAF News on May 13 that Raysut Cement Company SAOG signed on May 12 an agreement to acquire all the shares of Sohar Cement Factory LLC.

Yesterday, MSM suspended Raysut shares from being traded awaiting the company’s disclosure posted today.

In February 2019, Raysut Cement said that it “has signed a letter of intent with the shareholders of Sohar Cement Factory, a limited liability company registered in Oman, with respect to the purchase of all of its shares”.