Tadawul rejects main market listing for food firm after pump and dump claim

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Wed, 2021-03-10 16:27

RIYADH: The Saudi stock exchange rejected a request by a food firm seeking a main market listing after unidentified investors were suspected of manipulating share prices.
The bourse said it had rejected an application by Development Works Food Co. to transfer to the main market and had referred a suspected violation to the Public Prosecution.
It relates to alleged practices by a number of investors, involving manipulation and fraud in market trades.

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