Saudi CMA to delist firms with losses exceeding 50% of capital

Saudi Arabia's Capital Market Authority (CMA) will delist all companies that fail to develop a restructuring plan to reduce losses below 50 percent of capital, during the specified grace period under Article 150 of the corporate law, it said in a statement on Thursday.

The CMA has issued new rules governing listed companies with accumulated losses of over 20 percent of their capital, which came into effect on April 22.

The new regulations are aimed at enhancing transparency.