Kuwait CMA rejects Jiyad Holding’s grievance against trading halt
The grievance is related to the authority’s resolution on 29 August 2019 to suspend all shares of Jiyad Holding from trading on Boursa Kuwait
Image used for illustrative purpose. Salem Al-Mieh (L) and Jassem Al-Kandari work the phones at a brokerage firm in the Kuwait stock exchangeDecember 1, 2002 in Kuwait City, Kuwait. With the possibilities of war in Iraq looming investors are unsure what that will do to the market.
Getty Images/Joe Raedle
By Staff Writer, Mubasher
Kuwait -Jiyad Holding Co. disclosed on Tuesday that the Capital Markets Authority (CMA) in Kuwait has rejected the grievance filed by the company against the authority.
This grievance is related to the authority’s resolution on 29 August 2019 to suspend all shares of Jiyad Holding from trading on Boursa Kuwait.
In a bourse filing, Jiyad Holding noted that no impact shall reflect on the company’s financial statements from rejecting the grievance.
On 29 August, Boursa Kuwait announced the CMA may stop any stock from trading in case the listed securities fail to fulfill any of the obligations stipulated according to the applicable laws and regulations, or in case a protection for market traders is sought.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.