Petro Rabigh trading suspended over 'lack of transparency'

13/04/2015 Argaam

Petro Rabigh’s shares were suspended from trading yesterday by Saudi's Capital Market Authority (CMA) mainly due to the company's lack of transparency, local newspaper Makkah quoted unnamed sources as saying. 

 

The sources also claimed that there was a lack of clarity on the details of a marketing contract that the company signed with Saudi Aramco, along with failure to fully publish its 2014 financial statements.

 

In addition, the company failed to announce key information in a timely manner, as required by the kingdom's market regulator.

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