Riyadh – Mubasher: The Capital Market Authority (CMA) cancelled the listing of Mohammad Al-Mojil Group’s shares from the Saudi Stock Exchange (Tadawul).

The decision came after Al-Mojil did not take the necessary measures to rectify the company's situation in accordance with the Capital Market Law and its implementation regulations, as per provisions in Article 150 of the Companies Law.

The CMA invited the boards and shareholders of listed firms with losses of 50% or more of their capital to remedy the conditions before the expiration of the given grace period, according to a bourse filing on Tuesday.