Tadawul suspends trading on 7 shares for not disclosing 2020 financial results

01/04/2021 Argaam

Tadawul trading screen

The Saudi Stock Exchange (Tadawul) suspended trading on seven companies for one day, April 1, 2021.

 

The companies are Raydan Food Co., Saudi Cable Co., Saudi Industrial Development Co. (SIDC), Arabian Pipes Co., Al-Baha Investment and Development Co. and Salama Cooperative Insurance Co. on the main market, in addition to Development Works Food Co. on the Nomu Parallel Market.

 

The suspension is due to non-compliance with disclosing the annual financials for 2020 within the specified period as per the rules on the offer of securities and continuing obligations by the Capital Market Authority (CMA).

 

Shares will resume trading for 20 trading sessions starting Sunday, April 4, 2021, following today's suspension. The companies are required to announce the annual financial statements before the end of Thursday, April 29, 2021.

 

If a company fails to announce annual financials of 2020 during the above stated period, trading will be suspended again starting Sunday, May 2, 2021, until the financials are published.

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