Riyadh - Mubasher: Al Baha Investment and Development announced that its shares were suspended from over-the-counter (OTC) trade as a part of the new mechanism.

The company said that the move came after the Capital Market Authority (CMA) decision regarding the firms of which accumulated losses reached 20% or more.

Trading of the stock on the Saudi Stock Exchange (Tadawul) and over the counter will be suspended as of 23 April, according to a bourse filing.

Al Baha’s accumulated losses rose to SAR 185.37 million, representing 123.58% of its capital as a result for the stoppage of its leather factory and Jabal Atherb and Al Baha cable car stations.