Tadawul lifts trading halt on NCB, Samba

12/10/2020 Argaam

The Saudi Stock Exchange (Tadawul) lifted today, Oct. 12, the trading suspension placed on the shares of Samba Financial Group and National Commercial Bank (NCB) following the disclosure of a crucial event.

 

On Oct.11, Tadawul placed a trading halt on the stocks of both banks for one session, as per their request ahead of an event disclosure.

 

According to data compiled by Argaam, NCB entered into a legally binding merger agreement with Samba Financial Group. The two banks have agreed to take the necessary steps to implement a merger in accordance with Articles 191-193 of the Companies Law and Article 49(a)(1) of the Merger and Acquisition Regulations issued by the Capital Market Authority.

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