MEPCO trading halt lifted after financial restatement

29/07/2015 Argaam

The Saudi market regulator has lifted a trading halt on Middle East Paper Co. (MEPCO) after the company made a key disclosure related to its first half financial statement, according to a statement on Tadawul on Wednesday.

 

MEPCO on Wednesday restated its H1 net profit from SAR 35.5 million to SAR 42.8 million. The company said that SAR 7.3 million in consultancy fees related to its IPO were “fully borne by the selling shareholders.”

 

The Capital Market Authority on Tuesday placed a trading halt on MEPCO's shares at the company’s request, pending the restatement. 

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