CMA delists Al Mojil’s shares from Tadawul

02/05/2017 Argaam

The Capital Market Authority (CMA) on May 1 delisted Mohammad Al Mojil Group’s (MMG) shares from the Saudi Stock Exchange (Tadawul), the market regulator said in a statement to Tadawul on Tuesday.

 

The move came after the troubled contractor failed to rectify its situation concerning its accumulated losses.

 

Under CMA regulations, companies that fail to develop a restructuring plan to reduce losses to below 50 percent of capital will be delisted from the Saudi bourse.

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