Union Insurance gets nod to suspend share trading

12/06/2017 02:21 AST

Union Insurance said on Sunday it had received the nod from Securities and Commodities Authority (SCA) to suspend share trading in its shares in anticipation of the finalisation of its capital restructuring process.

The subscription period for its capital increase ended on June 6. The lead receiving bank and the external auditors of the company are currently working on the allotment of the new shares and the capital restructuring process in order to prepare the new share book, the company said in a bourse statement.

The trading will continue again after the company obtains the approval of the SCA on the subscription procedures, it added.


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