Abu Dhabi – Mubasher: A review of shareholders’ equity of Arkan Building Materials showed a change after the Sharjah Islamic Bank, listed on the Abu Dhabi Securities Exchange (ADX) purchased a 5.426% stake in Arkan.
The Abu Dhabi-listed building materials firm is owned by General Holding Corp by 51%, Al Faheim Group of Companies by 8.27%, Amer Al Fahim by 5.59% and Darwish Bin Ahmad and Sons Co LLC by 5.42%, and the newest addition Sharjah Islamic Bank with 5.426%.
Arkan recently reported a 92.15% surge in its net profits for the first six months of 2015 to AED 57.83 million ($15.74 million) compared to AED 30 million ($8.17 million) in H1-14, according to a previous bourse filing.
Meanwhile, Sharjah Islamic posted a slight increase in its net profits for the half-year period by 1.2% to AED 204.6 million ($55.7 million), compared with AED 202.1 million ($55 million) in the same period the year before.
