Tadawul halts trading on shares of 7 firms pending disclosures

01/04/2019 Argaam

 

The Saudi Stock Exchange (Tadawul) has placed a one-day trading halt on shares of Saudi Real Estate Co., Abdullah A.M. Al-Khodari Sons Co., Alujain Corp, Bonyan REIT Fund, Taleem REIT Fund, as well as the Nomu-listed Arab Sea Information System Co. and National Building and Marketing Co., according to a bourse statement.

 

Trading suspension was due to these companies’ failure to publish its financial statements for FY18 on time.

 

According to the corporate disclosure regulations, share trading will be resumed for 20 sessions as of Tuesday, April 2, 2019, provided that these companies should disclose their financial statements before April 29, 2019.

 

In case of non-compliance, a trading halt will be placed on these stocks as of Tuesday, April 30, 2019, pending the disclosure of the financial results.

 

According to the Capital Market Authority (CMA), all listed companies should disclose their financial statements for FY18 before March 31, 2019.

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