Bisha official: Regulators ignore decision allowing us to resume trading
An official at the Bisha Agricultural Development Company said his company received formal approval to resume trading on the stock market after a long suspension, but regulators refuse to implement the decision.
“The Capital Market Authority and Ministry of Trade have not executed the decision which allows us to resume trading on the market,” said Abdulaziz Al-Hoshani, the company’s legal counsel.
The Saudi Capital Market Authority has suspended the trading of the company’s stock since 2007 after the company’s losses exceeded 75% of capital.
The official urged the regulatory bodies to announce the reasons behind such abstention, saying his company operates in full capacity and owns sound financial and real estate assets.