Mobily’s stock edges up in early trade after trading halt

09/10/2018 Argaam

 

Etihad Etisalat Co.’s (Mobily) stock edged up on Tuesday morning on the Saudi Stock Exchange (Tadawul), a day after its shares were halted from trading.

 

At 10:25 AM Riyadh time, Mobily’s shares were trading 2.60 percent up at SAR 18.16 (SAR 0.46 price change) from their previous close.

 

The stock had previously closed at SAR 17.70, but opened at SAR 18.26.

 

Tadawul on Monday had halted trading on shares of Mobily for one day based on the company’s request as the telco had planned to issue a disclosure announcement.

 

Saudi Arabia’s Communications and Information Technology Commission (CITC) had suspended yesterday some of Mobily’s prepaid and postpaid mobile packages to new customers for not meeting Saudization requirements for employees at the executive level.

 

However, on Tuesday CITC lifted the suspension of sales for, the telco said in a bourse filing.

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