Wataniya raises value of investment in Najm

09/04/2023 Argaam
Logo ofWataniya Insurance Co.

Logo of Wataniya Insurance Co.

Wataniya Insurance Co. announced a significant favourable impact of 10% in its net assets, due to an increase in investments held in Najm for Insurance Services Co.

 

In a statement to Tadawul today, April 9, Wataniya said it owns 3.45% of Najm’s shares, which are so far valued at SAR 1.9 million.

 

However, Wataniya will now recognize this equity at a fair value of SAR 39.7 million for the year ended Dec. 31, 2022.  

 

This recognition is based on Najm’s independent valuation, under IFRS 9 Financial Instruments, as of Jan. 1, 2023.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.