Tadawul suspends trading on Ash-Sharqiyah for delay in Q3 results

Logo of Ash-Sharqiyah Development Co. 

The Saudi Exchange (Tadawul) placed today, Nov. 12, a one-day trading halt on Ash-Sharqiyah Development Co. for non-compliance with the deadline to announce their financial statements ended Sept. 30, according to a statement.

Tadawul noted that the company did not disclose its financials within the regulatory timeframe specified by the Capital Market Authority’s (CMA) Rules on the Offer of Securities and Continuing Obligations. The decision is also based on Tadawul's authority as outlined in its listing rules and procedures for suspending trading of listed securities.

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Trading on the stock will resume for 20 sessions as of Nov. 13, with the company directed to disclose its financial statements before Dec. 10, 2024.

If the company fails to comply, the trading suspension will resume starting Dec. 11, until it announces the financial statements.

Ash-Sharqiyah announced on Nov. 11 its inability to disclose financial results for the three-month period ended Sept. 30, 2024, within the specified deadline, expecting to publish them on Dec. 2.