Tadawul suspends trading on Buruj after merger with MEDGULF

09:38 AM (Mecca time) Argaam
Logo of Buruj Cooperative Insurance Co.

Logo of Buruj Cooperative Insurance Co.

The Saudi Exchange (Tadawul) suspended trading on shares of Buruj Cooperative Insurance Co. from today, Oct. 26, to commence delisting procedures of the company.

 

In a statement, Tadawul said the Securities Depository Center Co. (Edaa) will implement the increase in the quantity of The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) shares and deposit the new shares in the center’s accounts for all eligible Buruj shareholders.

 

The implementation will come two business days after the company's extraordinary general meeting approval and up to six business days as per Tadawul and Edaa procedures.

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