Tadawul delists Dur, Edaa applies quantity increase on Taiba

Logo of Dur Hospitality Co. 

The Saudi Exchange (Tadawul) stated that shares of Dur Hospitality Co. were delisted at the end of trading on Dec. 4.

In a separate statement, the Securities Depository Center Co. (Edaa) said it implemented the securities quantity increase for Taiba Investments Co. resulting from the merger with Dur.

The quantity increase was deposited through securities exchange on the center’s accounts of eligible shareholders registered in Taiba as of today, Dec. 5.

Meanwhile, Taiba, in a statement to Tadawul, announced the finalization of other complementary steps of the deposit of the consideration shares to Dur’s entitled shareholders and the listing of the consideration shares today.

As the exchange ratio is an integer, Dur’s shareholders received no fractional shares. Accordingly, there will be no sale of fractional shares, nor any proceeds deposited from it, the statement added.

According to data compiled by Argaam, shareholders of both Dur and Taiba approved the merger on Nov. 30.

Meanwhile, Taiba shareholders approved a capital increase from SAR 1.6 billion to SAR 2.6 billion to acquire Dur’s 100 million shares under the agreement terms.

Tadawul halted trading on Dur from Dec. 3, as the company initiated delisting measures.