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Tadawul suspends trading on Salama shares

Tadawul suspends trading on Salama shares
Trading the shares will resume on Thursday, 27 August
SALAMA
8050
1.33% 24.40 0.32

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading on the shares of Salama Cooperative Insurance Company on Wednesday, 26 August on the back of not announcing the financial results for the second quarter (Q2) of 2020.

Trading the shares will resume on Thursday, 27 August. In case of not announcing the financials before Thursday, 24 September, the shares will be suspended again, according to a statement on Wednesday.

Recently, the insurer said it could not post its financial results for the April-June period on time due to delay in obtaining regulatory approvals.

During the first quarter (Q1) of 2020, Salama incurred SAR 25.4 million in net losses before Zakat, 74.2% more than SAR 14.5 million in the same period in 2019.