Saudi Arabia bourse places 2-hour trading halt on Al Alamiya Insurance

16/02/2015 Argaam

 

The Saudi Stock Exchange (Tadawul) placed a two-hour trading halt on the shares of Al Alamiya for Cooperative Insurance Co. on Monday after the company said that its losses dropped to less than 50 percent of its capital.

 

The insurer’s accumulated losses dropped to SAR 126,04 million, or 31.51 percent of its capital after a capital hike of SAR 400 million through a rights issue.

 

Tadawul placed the trading halt after the opening session. Order maintenance started 12:30 p.m. according to local time in Riyadh. 

 

The company's accumulated losses flag mark will be removed from the bourse’s website.

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