United Cooperative Insurance shares suspended from Saudi market over liquidation request
Saudi Capital Market Authority halts trading of United Cooperative Insurance shares from September 13 due to a liquidation procedure request.
On September 13, 2026, the Saudi Capital Market Authority halted trading of United Cooperative Insurance shares on the Saudi stock market. The suspension was initiated after the company filed a request to begin liquidation proceedings. The Capital Market Authority cited provisions from the Capital Market Law (Royal Decree No. M/30, 1424H) and Article 38 of the Listing Rules, specifically subparagraph (14) of paragraph (a).
The suspension will remain in place until a decision is made by the board following the commercial court's ruling on the liquidation request. The board of United Cooperative Insurance Company decided to request financial restructuring proceedings before the commercial court. This move aims to safeguard the interests of shareholders and creditors, ensuring the company's continued operation.
The company's board authorized its chairman, acting CEO, and executive management to undertake all necessary legal measures to execute this decision in compliance with regulatory guidelines.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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