Riyadh – Mubasher: The Saudi Exchange (Tadawul) has delisted Alinma Tokio Marine Company, following the completion of its merger with Arabian Shield Cooperative Insurance Company.
The delisting was effective as of the end of trading on 25 October 2023, according to a bourse filing.
In September this year, the Saudi Capital Market Authority (CMA) gave the green light for Arabian Shield to raise its capital to SAR 798.15 million in line with the merger process.
Meanwhile, in the first half (H1) of 2023, Arabian Shield reported net profits before Zakat of SAR 36.64 million, against net losses of SAR 3.22 million during the same period in the previous year.
Alinma Tokio Marine registered accumulated losses worth SAR 81.33 million as of 31 March 2023. The amount equalled 27.11% of its SAR 300 million capital.
