Tadawul suspends trading on NCB, Samba ahead of event disclosure

11/10/2020 Argaam

The Saudi Stock Exchange (Tadawul) suspended trading on shares of National Commercial Bank (NCB) and Samba Financial Group today, Oct. 11, for one trading session.

 

The suspension, which comes in accordance with the listing rules, was requested by both banks to disclose a material event.

 

Trading on shares of both banks will resume on Monday, Oct. 12, Tadawul added.

 

Before trading suspension, Samba shares rose 1.1% to SAR 27.50, while NCB increased 1.32% to SAR 38.50.

 

According to data compiled by Argaam, in June this year, NCB signed a framework agreement with Samba to begin due diligence process, and negotiate definitive and binding terms of a potential merger.

 

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