Tadawul suspends trading on Walaa Cooperative and MetLife AIG shares

24/12/2019 Argaam

 

The Saudi Stock Exchange (Tadawul) suspended trading of Walaa Cooperative Insurance Co. and MetLife AIG ANB Cooperative Insurance Co. on Tuesday for one trading session, a bourse statement said.

 

The suspension is in accordance with the rules and comes upon the requests of both companies as they will announce an event, the statement added.

 

The trading of the shares of both companies will resume on Wednesday, Dec. 25, 2019.

 

Yesterday, the Saudi General Authority for Competition (GAC) approved the merger between Walaa Cooperative Insurance Co. and MetLife AIG ANB Cooperative Insurance Co.

 

In June, Walaa inked a non-binding memorandum of understanding (MoU) with MetLife AIG to evaluate a potential merger between both companies, Argaam reported

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