Tadawul approves trading of Thimar shares over the counter

The Saudi Stock Exchange (Tadawul) approved today National Agricultural Marketing Co.’s (Thimar) request to permit the trading of its shares over the counter.

This will be in accordance with the Procedures of Trading in Listed Companies’ Shares Over the Counter approved by the Capital Market Authority (CMA) on Jan. 30, 2019.

Trading will commence from Sunday, Sept. 6, 2020.

According to data compiled by Argaam, trading of Thimar shares was suspended on Dec. 11, 2019, as the company was unable to announce its Q3 2019 financial results on time.

Meanwhile, the stock continued to be suspended for not announcing the financial results for subsequent periods.

Thimar's shares closed at SAR 17.20 in the last trading session.

Tadawul had published in March 2019 the trading procedures of the shares of listed companies with trading suspension, including the most common cases in which trading can be conducted off platform when the company's shares are suspended, as follows:

- Suspend trading of the stock when the company does not publish its financial information.

- Suspension of trading of the stock when the external auditor's report includes an opinion opposing or refraining from expressing an opinion.

- Suspending the trading of the company's shares when the company fails to comply substantially with the relevant executive regulations to protect investors or maintain a regular market.