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Tadawul delists Samba, Saudi National Bank lists merger shares

Tadawul delists Samba, Saudi National Bank lists merger shares
Saudi National Bank was formed following merger of National Commercial Bank and Samba
SNB
1180
-0.73% 54.20 -0.40

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced delisting the shares of Samba Financial Group at the end of Sunday's trading session, in reference to the trading suspension of Samba a few days ago.

In a separate disclosure, the Saudi National Bank (SNB) announced the completion of listing the shares that were issued to Samba’s eligible shareholders in respect of the merger transaction, confirming that the merger has been concluded.  

The Saudi National Bank has been formed following the merger of the National Commercial Bank (NCB) and Samba, which both earlier announced the expiry of the creditor objection period with no outstanding unsatisfied creditor objections for the merger.

The bank recently appointed Ammar Abdul Wahed Al Khudairy as the new Chairman to replace Saeed Mohammed Alghamdi.