CMA suspends Tihama shares after filing for financial reorganization

06/10/2022 Argaam
Logo of Tihama Advertising and Public Relations Co.

Logo of Tihama Advertising and Public Relations Co.

The Capital Market Authority (CMA) decided to halt trading on shares of Tihama Advertising and Public Relations Co. as of Oct. 9, according to the authority’s website.

 

The decision came after the company submitted a request today, Oct. 6, for financial reorganization with the competent court, as per the Bankruptcy Law, to preserve shareholder rights and ensure company sustainability.

 

The registration of the financial reorganization application exempts the company from applying the provisions of the Companies Law regarding accumulated losses in case of reaching 50% or more of capital, according to data available with Argaam.

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