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Tadawul suspends trading on Medgulf shares

Tadawul suspends trading on Medgulf shares
The decision came after Medgulf failed to announce its annual financial results
MEDGULF
8030
-0.15% 13.30 -0.02

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Sunday suspended trading on the Mediterranean and Gulf Insurance and Reinsurance Company’s (Medgulf) stocks.

The decision came after Medgulf failed to announce its annual financial results for the full year ended 31 December 2017, according to the Saudi bourse's statement.

The suspension will start from 1 April 2018 until Medgulf announces its financial results, Tadawul said. 

In February 2018, Medgulf’s board recommended doubling the company’s capital to SAR 800 million from SAR 400 through the tradable rights.