Logo of Al Sagr Cooperative Insurance Co.
The Saudi Exchange (Tadawul) suspended trading on Al Sagr Cooperative Insurance Co.'s shares due to failure to disclose financial statements for Q2 2021 during the specified regulatory period.
In a statement, the bourse said that the trading suspension, which starts today, Sept. 21, will be in place until the insurer announces its financial results.
In August, Al Sagr said it was unable to disclose its financial results for the six-month period ended June 30, 2021, within the specified time, Argaam reported.
The company said it is still in process of appointing an auditor to examine and audit its financial statements for Q2, Q3 and Q4 2021, as well as the first quarter of 2022.
Earlier, Al Sagr shareholders disapproved the appointment of Baker Tilly and Alkharashi & Co. as external auditors to review the financial statements.
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