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 National Building and Marketing Co has been suspended from trading [representational].
CW Archives
Saudi Arabia's National Building and Marketing Co has been suspended from trading [representational].

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”.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020