The Capital Market Authority (CMA) on May 1 delisted Mohammad Al Mojil Group’s (MMG) shares from the Saudi Stock Exchange (Tadawul), the market regulator said in a statement to Tadawul on Tuesday.
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.
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