Tadawul delists Al Mojil shares as of May 7

The Saudi Stock Exchange (Tadawul) said it has delisted Mohammad Al Mojil Group’s shares under the symbol (1310) as of the end of Sunday May 7, 2017. 

Last week, the Capital Market Authority (CMA) said it had delisted Mohammad Al Mojil Group’s (MMG) shares Tadawul. 

The move came after the troubled contractor failed to rectify its situation concerning its accumulated losses.

Under CMA regulations, companies that fail to develop a restructuring plan to reduce losses to below 50 percent of capital will be delisted from the Saudi bourse.