Title: The Capital Markets Authority Announces Suspension of Trading of Al-Bareeq Holding Company Shares
Date Publish 10 November 2020
In reference to Article (1-18) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, which permitted the CMA to suspend the trading of any security listed in the Exchange in various cases, including the case of achieving investor protection in the markets,. the CMA hereby announces suspending the trading of Al-Bareeq Holding Company shares starting from Tuesday November 10, 2020 until further notice. It shall be determined as a result of the audit and investigation that it is currently performing on the transactions of this share that took place on Monday November 9, 2020 which were accompanied by several notices related to the trading volumes of the share and its value that witnessed a significant decline at a rate of 74%.
As the CMA announces suspending the trading of the share temporarily to protect the company’s shareholders and the dealers of securities activities, it will announce the results of the audit upon its completion. . It will also announce the measures to be taken regarding suspension the mentioned share in due time.
Thus, the CMA emphasizes on its keenness in implementing the legislations justly on all the dealers of securities activities in order to promote a sound investment environment built on applying the Law to all without exception in accordance with the principles of fairness, transparency, and integrity.
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