Tadawul suspends Alinma Tokio’s shares, begins delisting procedures

Logo of Alinma Tokio Marine Co.

The Saudi Exchange (Tadawul) announced the trading suspension on Alinma Tokio Marine Co.’s shares as of today, Oct. 25, to commence delisting procedures for the company’s shares, according to Tadawul website. 

 

Furthermore, the Securities Depository Center (Edaa) will implement the increase in the number of Arabian Shield Cooperative Insurance Co.’s shares and deposit the new shares in the accounts of all eligible Alinma Tokio shareholders after two business days from the effective date of the merger and up to six working days, as per the Tadawul and Edaa procedures.

 

According to data compiled by Argaam, Alinma Tokio’s shareholders approved the merger offer submitted by Arabian Shield through a share swap.

 

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