Tadawul to halt trading in 12 securities ahead of migration to T+2 system

The Saudi Stock Exchange (Tadawul) will suspend trading from April 19 to 20 in 12 securities, whose transactions are settled in two business days, ahead of adopting the new (T+2) settlement cycle.

Trading shall resume in these securities on Sunday, the stock exchange said in a statement on Tuesday.

The bourse currently uses a T+0 settlement system; meaning trades are settled the same day.

The suspended stocks are Mohammad Al Mojil Group, Al-Baha Investment and Development Co., Bishah Agricultural Development Co., Weqaya Takaful Insurance and Reinsurance Co., Sanad Cooperative Insurance Co., Nama Chemicals Co., and Etihad Atheeb Telecommunication Co.

Other securities include Sadara Basic Services Co.'s sukuk, National Shipping Company of Saudi Arabia's Sukuk, Arabian Aramco Total Services Co.’s Sukuk as well as Sukuk 3 and 4 of state-run utility Saudi Electricity Co.