Trading on Saudi Cable shares suspended ahead of material event

07/01/2025 Argaam
Logo ofSaudi Cable Co.

Logo of Saudi Cable Co.

The Saudi Exchange (Tadawul) suspended today, Jan. 7, trading on shares of Saudi Cable Co. until the end of the trading session, in adherence to the listing and trading suspension rules.

 

According to a statement, this action was taken at the company's request, ahead of the disclosure of a material event.

 

For more news on listed companies

 

The stock will resume trading tomorrow, Jan. 8.

 

Pre-trading suspension, Saudi Cable stock plunged by 2% to stand at SAR 104.20, as nearly 157,800 shares worth SAR 16.6 million changed hands.

 

In December 2024, Saudi Cable issued a clarification regarding the ruling of Turkey's appeal court to overturn the bankruptcy (liquidation) decision previously issued against Elimsan, its Turkey-based subsidiary, Argaam's data indicated.

 

The Turkish Court of Appeals decision on Nov.  20, 2024, to annul the liquidation ruling restored the management’s authority to act on the company’s assets, resulting in a major financial impact albeit the exact value has not yet been determined.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.