Dubai – Mubasher: Al Ramz Corporation Investment and Development has purchased 7.33 million shares of Gulfa Mineral Water and Processing Industries Company for the benefits of one of its clients as the ultimate beneficial owner.

The transaction is equivalent to 24.43% of Gulfa Mineral Water’s shares, according to a bourse filing on Monday.  

It is noteworthy that during the first nine months of 2019, Al Ramz Corporation's net profits tumbled to AED 3.9 million from AED 29.8 million in the same period a year earlier.