Tadawul delists Al-Khodari shares

Logo of Abdullah A. M. Al-Khodari Sons Co.

The Saudi Exchange (Tadawul) announced the delisting of shares of Abdullah A. M. Al-Khodari Sons Co. with symbol 1330 as of the end of Nov. 4.

According to data compiled by Argaam, the Capital Market Authority (CMA) issued a decision on Nov. 4, to delist shares of Al-Khodari from Tadawul.

The decision came after Al-Khodari announced that a judgment was issued by the Commercial Appeal Court in Riyadh, supporting the decision to end the financial reorganization procedure and to open the liquidation procedure under the bankruptcy law.

In August, the company submitted an appeal to the judgment issued by the Commercial Court in Dammam, which terminated the company's financial restructuring procedure and commenced liquidation under the Bankruptcy Law.

The company announced receiving, on Aug. 11, the Dammam Commercial Court’s decision to end the company's financial restructuring procedure and start a liquidation process.