CMA lifts trading suspension on Saudi Cable shares

08/06/2023 Argaam
Logo ofSaudi Cable Co.

Logo of Saudi Cable Co.

The Capital Market Authority (CMA) lifted the suspension placed on trading in the shares of Saudi Cable Co., based on the applicable procedures for suspending trading on listed companies.  

 

The decision came as the court approved the cable manufacturer’s application to start financial restructuring procedures (FRPs), the market regulator added.

 

Saudi Cable announced on June 7 that Riyadh Commercial Court approved its request to start FRPs, Argaam reported.

 

Trading in the stock has been suspended by the Saudi Exchange (Tadawul) since May 9, 2022, as the company failed to announce its financial statements for 2021 within the specified period. The trading suspension continued as the company did not also disclose its results for subsequent periods.

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