The Saudi Capital Market Authority (CMA) has suspended trading in shares of troubled Saudi construction firm Mohammad Al Mojil Group (MMG) after it failed to announce its second-quarter results on time, the CMA said on Sunday.
"Given the lack of commitment by MMG in announcing their second quarter results during the specified period...the Capital Market Authority announces the suspension of trading of MMG shares in Tadawul starting from Sunday, 22 July," said the statement, posted on the Tadawul bourse.
On Saturday, MMG announced a delay in publishing its second-quarter financial statements.
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