Tadawul updates Wafa Insurance status after losses narrowed

18/05/2015 Argaam

The Saudi Stock Exchange (Tadawul) has updated the status of Saudi Indian Company for Cooperative Insurance (Wafaa) on Monday after the company said it narrowed its accumulated losses to 31.6 percent, or SAR 64.8 million of capital.


Tadawul said it will suspend trading on the company's shares for two hours on Monday morning after the announcement. Orders will resume at 12:30 p.m., the bourse added. The company's accumulated losses flag will also be removed from Tadawul's website.

 

Argaam had earlier reported that Wafa increased its capital to SAR 205 million through a SAR 105 million rights issue at SAR 10 per share.

 

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