November 6, 2017 / 7:17 AM / 7 months ago

Saudi Tayyar Travel shares plunge after founder reportedly detained

DUBAI, Nov 6 (Reuters) - Shares in Saudi Arabia’s Al Tayyar Travel plunged 10 percent in the opening minutes of trade on Monday after the company said its founder and board member Nasser bin Aqeel al-Tayyar had reportedly been detained.

He has direct and indirect stakes in the company totalling 29.72 percent, the company said in a statement without giving details or revealing why he was reportedly held.

Online economic news service SABQ reported Tayyar had been detained in a corruption probe that has resulted in the detentions of dozens of senior officials and businessmen in recent days. (Reporting by Andrew Torchia; Editing by Mark Potter)

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