Tadawul trading screen
The Saudi Exchange (Tadawul) suspended five stocks from trading today, Aug. 15, including Saudi Arabia Refineries Co. (SARCO), Red Sea International Co., Tabuk Agricultural Development Co., Alkhaleej Training and Education Co., and Saudi Fisheries Co.
The decision came after these companies did not comply with the announcement of their H1 2023 financial statements during the specified period mentioned in the rules on the offer of securities and continuing obligations, according to the Tadawul website.
As per its authorities stipulated in the listing rules as well as the procedures for suspension of listed securities, Tadawul decided to suspend these companies during today's trading session only.
Trading will resume for 20 trading sessions starting Aug. 16, and the companies should disclose their financials before the end of Sept. 12.
If a company does not announce its financials during the specified period, its shares will be resuspended starting from Sept. 13, 2023, until it announces its financials.
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