The Saudi Stock Exchange (Tadawul) lifted today, Oct. 12, the trading suspension placed on the shares of Samba Financial Group and National Commercial Bank (NCB) following the disclosure of a crucial event.
On Oct.11, Tadawul placed a trading halt on the stocks of both banks for one session, as per their request ahead of an event disclosure.
According to data compiled by Argaam, NCB entered into a legally binding merger agreement with Samba Financial Group. The two banks have agreed to take the necessary steps to implement a merger in accordance with Articles 191-193 of the Companies Law and Article 49(a)(1) of the Merger and Acquisition Regulations issued by the Capital Market Authority.
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