Abra Holdings offers to raise its controlling stake in Oman Cement

Abra Holdings Ltd (Abra) of Mauritius (Huaxin Cement Group) has announced a public offer to acquire an additional 15.42 per cent of the issued share capital of the Oman Cement Co (OCC), a move that would increase the former’s stake in OCC to 75 per cent.

The offer opens on 14 June 2023 and closes on 25 June 2023 against an offer price of OMR0.379 (US$0.98) per OCC share.

“Abra will contribute to the development of operations at OCC, increase its production efficiency, and enhance its competitiveness locally and regionally, in addition to enhancing the positive image of the Omani industrial sector in general,” the statement added.