In its endeavor to increase the efficiency of state-owned firms, Oman’s Ministry of Finance transferred its majority stake in Oman Cement to Oman Investment Fund (OIF) on Wednesday. The transfer of the equity was announced by Jamal Shamis al Hoti, Chief Executive Officer of Oman Cement in a filing to the Muscat Securities Market. “We are pleased to inform that the company has received a letter from the Ministry of Finance declaring the transfer of the government of 168.7mn equity shares of the company, owned by the Government of Oman, which represents 51% of the equity capital of the company to the Oman Investment Fund at a price of OMR0.484 per share”, Jamal said in the notification. Oman’s Ministry of Finance started transferring shares to other state-owned corporates and sovereign funds in the middle of this year, a move aimed at making the companies more productive and efficient. (Oman observer)   Oman Cement Co.: OMR0.450 as of 7 Dec 2016, Rating: Neutral, TP: OMR0.502 per share, MCap: USD392mn, OCOI OM / OCCO.OM