Some investors in the Saudi stock market breathed sigh of relief on Wednesday after the Capital Markets Authority lifted a suspension of trading on Saudi Integrated Telecom Company, known in Arabic as AlMutakamela.
The telecoms operator has been at the center of Riyadh market gossip for the past few months as bankers tried to piece together exactly why trading in its shares was halted on April 1, less than a year after its initial public offering.
Those who bought the shares in good faith were not able to sell for the entire suspension period. On Wednesday, they finally got some action. Turnover in AlMutakamela shares was the biggest on the market at 565m riyals ($150m), according to the bourse website.
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