CMA says Umm Al Qura Development hasn’t yet applied for Tadawul listing

01/06/2017 Argaam

The Capital Market Authority (CMA), the Kingdom’s market regulator has said that Makkah-based Umm Al Qura for Development & Construction Co. did not apply to list shares on the Saudi Stock Exchange (Tadawul).

 

The market regulator is currently investigating Umm Al Qura’s invitation for an initial public offering (IPO) on the company’s website due to the violation of market rules, the CMA said.

 

Based on market rules, stocks may be floated in a public offering only after CMA approval.

 

The move comes as part of the CMA’s efforts to clamp down on violation of market regulations, enhance transparency, and protect investor interest. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.