Today, the Damascus Securities Exchange started trading on the shares of Al Badia Cement Company at an initial price of one hundred Syrian Pounds during a ceremony held on the occasion at the headquarters of the market.
The CEO of the market, Dr. Abdul Razzaq Qasim, explained that Al Badia Cement Company has fully covered all its accumulated losses with the profits of the current and last year and the property rights became positive, which made it achieve all the required standards in the market and obtained the necessary approvals pointing out that this exploratory session where the share is not subject to price limits Approved in the market.
For his part, CEO of Al Badia Cement Company Khalid Al Sawaf pointed out the importance of this step for the company, which confirms its confidence in the future of the local market and its commitment to the continuous and continuous benefit to investors and shareholders through the granting of additional opportunities for fair trading and strengthen the policy of governance, transparency and disclosure that has been pursued since its inception and provide market reference value with Allowing the recovery of the Damascus Securities Exchange as the national economy improves.
The management of the market issued a decision on the 29th of last month to grant the final approval to list the shares of Al Badia Cement Company in the regular market.
Al Badia Cement Company was established in 2006 in Syria as a public shareholding company with an estimated investment cost of the equivalent of $ 400 million and started production during 2011 from its factory in Damascus countryside.It produces Portland cement with a capacity of 1.6 million tons annually according to the Syrian standard specifications and conforming to European standards.