Emirates – Methaq Insurance denies the acquisition of Ishraq

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Source: (MENAFN – Al-Bayan)

  • Abu Dhabi – Al-Bayan

Date: 08 September 2020 Methaq Takaful Insurance Company denied what is being circulated about the acquisition of “Ishraq” company.

The company said, in a disclosure to the Abu Dhabi market today, that the board of directors of Meethaq did not issue any approval for the acquisition and the company did not take any measures with the intention of acquiring Ishraq for Investment or any other decision, if any.

The company clarified that if there is an intention to acquire in the future, it will follow all legal procedures, including disclosure of that.

Ishraq shares closed today 0.52% down to 0.38 dirhams after trading 4.29 million shares worth 1.66 million dirhams, while Methaq rose 3.91% to 0.66 dirhams, trading 1.7 million shares worth 1.11 million dirhams.

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