Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements for 2021.
The exchange suspended Saudi Cable Co. shares from the main market, according to a statement.
It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market.
The trading of these companies will be suspended from Sunday, April 03.
Following one day’s suspension, the company’s trading in the exchange will be resumed on Monday. However, these companies should ensure to submit the 2021 financial statements before the closing on May 8.
If these companies fail to submit the financial statements on that date, trading will be suspended from May 9 until they produce the 2021 results.