CMA delists Wafa Insurance shares from Tadawul

24/05/2022 Argaam

building of Wafa Insurance

The Capital Market Authority (CMA) decided today, May 24, to delist Saudi Indian Company for Cooperative Insurance (Wafa Insurance) from the Saudi Exchange (Tadawul).

 

The decision was based on the ruling of the Fifth Appeal Circuit in Riyadh Commercial Court to uphold the ruling of the Ninth Commercial Circuit in the same court to end the company's financial restructuring procedure and start its liquidation process in accordance with Bankruptcy Law.

 

Wafa Insurance stock has been suspended from trading since Nov. 12, 2018, due to non-compliance with regulatory measures of announcing financial results in specified periods.

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