ACIG’s accumulated losses slips below 35%

09/05/2017 Argaam

Allied Cooperative Insurance Group’s (ACIG) accumulated losses declined to SAR 69.3 million, or 34.65 percent of its capital, the company said in a statement to Tadawul on Tuesday.

 

ACIG will be subject to the Saudi Capital Market Authority’s (CMA) regulations that govern listed companies with accumulated losses of over 20 percent and less than 35 percent of capital, the Saudi Stock Exchange said in a separate statement today ahead of putting a yellow flag next to the company on the website.

 

Last month, ACIG’s accumulated losses have reached SAR 73.7 million, or 36.9 percent of its capital, Argaam reported earlier. 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.