Saudi Arabia's Tadawul suspends National Building and Marketing Co
Company failed to submit financial statements for period ending 31 March 2019, with CMA levying a fine of $2,666
Saudi Arabia’s Tadawul has suspended the kingdom’s National Building and Marketing Co from trading its shares on the stock market from 15 October 2019, as the company that deals in the marketing, and logistics of building materials failed to announce its financial statements for the period ending 31 March 2019, in Q2 2019.
In a stock market filing, Tadawul announced that the company will be suspended “until the company announces its financial statements”.
According to information on the company’s website, it is a registered steel dealer for Sabic.
The Capital Market Authority (CMA) passed a CMA Board resolution on 14 October 2019, imposing a fine of $2,665.8 (SAR10,0000) on the company.
CMA said that the fine was levied “due to its violation of paragraph (1) of Article (90) of the Rules on the Offer of Securities and Continuing Obligations”.