Saudi CMA fines Arabian Pipes for violating disclosure rules

03/07/2019 Argaam

Saudi Arabia's Capital Market Authority (CMA) has imposed a fine of SAR 20,000 on Arabian Pipes Co. due to non-compliance with the applicable disclosure rules, the market regulator said in a bourse statement on Wednesday.

 

The pipe manufacturer failed to provide the market regulator and shareholders with the annual board report for 2018 during the legally specified period.

 

The company disclosed the annual report on April 7, 2019. 

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