Shareholders agree to sell stake in firm

28/07/2014 08:30 AST

Abu Dhabi-listed Islamic insurer National Takaful Company (Watania) said yesterday its majority shareholders had agreed to sell stakes to strategic investors from the Gulf region, but did not name the selling or buying parties.

In a short bourse filing, Watania said the deal was subject to regulatory approvals. It did not disclose the value of the deal, nor the size of the stake being sold.

Among Watania's shareholders are Abu Dhabi Investment Council, Ajman Bank and Abu Dhabi National Insurance Company, all with around 15.75 per cent of the firm.

It is the second acquisition announcement last week involving an Abu Dhabi-listed insurer, with National Bank of Ras Al Khaimah saying on Thursday it was looking to acquire a majority stake in Ras Al Khaimah National Insurance Company for an undisclosed sum.


Gulf Daily News

News

National Takaful Company posts Dh7.6m profit in 2017

07/03/2018

National Takaful Company (Watania) posted a net profit of Dh7.6 million for 2017 compared to Dh400,000 in 2016 with return on equity of 9 per cent, the firm said on Tuesday in a statement.

Gulf News

Watania back in the black in Q2

13/08/2017

UAE-based National Takaful Company (Watania) has posted total profits of Dh2.7 million ($735,000) for the second quarter of the year as against a deficit Dh1.5 million a year before, marking a growth

Trade Arabia

A.M. Best affirms ratings of National Takaful Company (Watania) PJSC

23/03/2015

A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of National Takaful Company (Watania) PJSC (Watania) (United Arab Emirates). The outlook for b

CPI Financial

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

WATANIA Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
QATI 37.50 -0.85 (-2.22%)
TAWUNIYA 79.45 4.04 (5.35%)
BUPA 102.70 7.22 (7.56%)
QGRI 45.00 -1.90 (-4.06%)
ARCCI 73.45 1.93 (2.69%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap