Saudi Arabia's Capital Market Authority (CMA) on Wednesday delisted Bishah Agricultural Development Co. (Bishah) from the Saudi Stock Exchange (Tadawul).

 

This came after the company failed 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, CMA said in a statement today.

 

According to data compiled by Argaam, Bishah Agricultural is the third company to be delisted after Moahmmad Al Mojil Group and Sanad Cooperative Insurance Company (Sanad). 

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