Tadawul halts trading on 8 stocks for missing 2023 financial disclosure deadline

Tadawul trading screen

The Saudi Exchange (Tadawul) placed a trading halt on eight companies for one trading day, April 1, for noncompliance with announcing the financial statements of 2023 during the specified period mentioned in the rules on the offer of securities and continuing obligations.

The eight halted stocks included six Tadawul All Share Index (TASI) companies: Saudi Fisheries Co., Saudi Cable Co., Development Works Food Co., Najran Cement Co., AYYAN Investment Co., and Saudi Vitrified Clay Pipes Co., as well as two Nomu-listed companies: Al Rashid Industrial Co. and Munawla Cargo Co.

Trading on these stocks will resume for 20 sessions as of April 2, with the companies directed to disclose their annual financial statements before May 6, 2024.

If any company fails to comply, the trading suspension will resume starting May 7, 2024, until it announces the financial statements.