RAK Ceramics Climbs as Owner Said in Talks to Sell Company Stake
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RAK Ceramics, the world’s biggest maker of ceramic tiles, jumped the most in a week after Ras Al Khaimah’s ruling family was said to be in talks to sell a stake valued at as much as $391 million.
The shares rose as much as 3.9 percent to 4.02 dirhams in Abu Dhabi before closing 2.8 percent higher on a volume of 1.9 times the three-month average. It outpaced a 0.4 percent gain for the benchmark Abu Dhabi stock index. The stock has climbed 27 percent this year after almost tripling in 2013.