Logo of Quara Finance Co.
The Saudi Exchange (Tadawul) announced that a trading halt will be placed again on Quara Finance Co.’s shares as of today, Oct. 2, until the company’s financial statements are disclosed.
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Tadawul explained in a statement that the suspension is due to the company's failure to disclose its financial statements for the period ending June 30, 2024, within the regulatory timeframe.
Quara Finance Co. announced, on Sept. 1, its inability to disclose its financial results for the six-month period ended June 30, 2024, within the specified deadline, data compiled with Argaam showed.
The company attributed the delay to a matter beyond its control, which is the election of the board of directors for the upcoming term, as per the company’s announcement on Aug. 20, 2024. Therefore, the stock was suspended from trading on Sept. 2, 2024.
The company also confirmed that the interim financial statements will be published as soon as they are received and approved by the authorized parties, no later than Oct. 31, 2024.
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