Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has issued its resolution of delisting Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) securities from the Saudi Exchange (Tadawul), according to a bourse disclosure on Tuesday.

The decision followed Wafa Insurance’s announcement on Tadawul on Monday, 23 May this year, which referred to the Appeals Chamber of the Commercial Court in Riyadh’s decision to support ending the financial restructuring procedure of the firm.

The court’s appeal resolution also endorsed the liquidation procedure in accordance with Bankruptcy Law.