Mubasher: Oman Cement Company announced on Wednesday that it has received a letter from the ministry of finance declaring the transfer of the government of 168.7 million equity shares of the company owned by the Omani government to the Oman Investment Fund (OIF) at a price of OMR 0.484 per share.

The number of shares represents 51% of the equity capital of the company, according to a bourse filing.

By 11:25am Muscat time, the stock rose 2.22%.