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Al Ramz Corporation divests 17.8% stake in Takaful Emarat

2018-10-08 07:02:00 GMT (Economies.com)
 

Al Ramz Corporation Investment & Development announced its divestiture from a 17.76% shareholding in Takaful Emarat, as it successfully achieved the target investment return.

Last July, Al Ramz announced that a subsidiary bought 26.649 million shares in Takaful Emarat.

It also said in June that its subsidiaries owned 200 million shares in Ajman Bank.

Al Ramz Capital, a unit of Al Ramz Corporation, was licensed last July for securities lending and borrowing on Abu Dhabi Securities Exchange (ADX).

Al Ramz Corporation profit netted AED 12.2 million in the third quarter of 2018, compared with AED 6.4 million in the year-earlier period.

The company recorded gains from investments at fair value, amounting to AED 10 million, against losses of AED 268,000 in the corresponding quarter in 2017.

 
 
 
  Symbol Last Change Chg.%
1.1602
0.0032
0.2789%
1.3746
0.0118
0.8637%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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