Mubasher: 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.