Riyadh – Mubasher: Etihad Etisalat Co (Mobily) on Sunday said that the procedures which were implemented by the Saudi Capital Market Authority (CMA) and the Public Prosecution will not impact negatively on the company’s financial position.
The procedures were implemented against persons from the previous executive management, not the company itself, Mobily’s statement added.
“Mobily thanks the CMA and the Public Prosecution for their eagerness to achieve justice, efficiency and transparency in securities transactions and their protection of the market against illegal practices,”, the telecommunications provider’s statement noted.
On Thursday, Saudi Arabia-based CMA said that the Public Prosecution completed investigations into suspected violations and insider trading in Mobily.
By 10:48 am KSA time, Mobily’s stock increased 1.19% to reach SAR 15.32.
