ACE Arabia’s major investor offloads 5% stake

ACE Arabia Cooperative Insurance said a major investor sold out its five percent stake in the company to EL-Khereiji Trading and Electronics in a private transaction.

ACE Arabia said in a filing on Tadawul that Wahdan Commercial Investment Company, one of the founders, offloaded its whole shareholding (500,000 shares) in the company.

Another major deal was executed today on ACE Arabia’s stock in which 500,000 shares were sold in private transactionfor SAR 64.25 per share, and a total value of SAR 32 million.