Trading halt placed on 5 stocks due to nondisclosure of 2022 financials
- Date: 02-Apr-2023
- Source: Argaam
- Sector:Financial Markets
- Country:Saudi Arabia
Trading halt placed on 5 stocks due to nondisclosure of 2022 financials
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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