Trading halt on 5 stocks for missing 2022 financial disclosure deadline

02/04/2023 Argaam

Trading halt on 5 stocks for missing 2022 financial disclosure deadline

Tadawul trading screen

The Saudi Exchange (Tadawul) placed a trading halt on five companies, namely, The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF), Anaam International Holding Group, Alkhaleej Training and Education Co., Saudi Industrial Development Co. (SIDC) and Red Sea International Co., as of today, April 2, 2023, according to a statement.

 

The trading suspension came as the companies failed to disclose financial statements for the year ended Dec. 31, 2022, during the set period.

 

Trading on these stocks will resume for 20 sessions as of April 3, with the companies directed to disclose their annual financial statements before May 7, 2023.

 

If any company fails to comply, the trading suspension will resume starting May 8, 2023, until it announces the financial statements.

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