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Two Listed Saudi Firms Fined for Poor Disclosure - ASHARQ AL-AWSAT English Archive
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RIYADH,(Reuters) – Saudi Arabia’s bourse regulator has fined two listed firms for inadequate disclosure as it tries to improve the image of the local bourse and appeal to foreign investors.

The Capital Market authority (CMA) said in a statement on Sunday it has fined Al Jazira Bank 50,000 riyals ($13,330) for not immediately notifying it about changes in its senior management.

A similar fine has been imposed on Advanced Petrochemical Company for not disclosing the shutdown over the Aug 13-Sept 25 period of a plant for unscheduled maintenance, CMA said.

Advanced Petrochemical Co announced the closure of the plant when it published third-quarter earnings in mid-October, it added.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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