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Announcement by the Capital Market Authority (CMA) on the Suspension of the Share Trading of Etihad Atheeb Telecommunication Company, Saudi Telecom Company, Mobile Telecommunication Company Saudi Arabia and Etihad Etisalat Company Shares

​Based on the Capital Market Law issued by the Royal Decree No. M/30 dated 2/6/1424H and the Listing Rules issued by the Board of the Capital Market Authority and pursuant to the High Order dated 30/12/1437H  which, among other things,  directed the Communications and Information Technology Commission to:

  • Coordinate with Mobile Telecommunication Company Saudi Arabia (Zain) to extend its issued license for an additional 15-year period, and to allow other interested Saudi-licensed telecom companies to extend their licenses, against which the government will be entitled to a 5% of the interested company's annual net income throughout the extended period.
  • Coordinate with (Zain) to facilitate the issuance of a unified telecommunication license that allows the Company to provide all telecommunication services, in addition to allowing other Saudi-licensed telecom companies to obtain the same unified license.

The CMA Board has issued its resolution dated 30/12/1437H corresponding to 01/10/2016 to suspend the share trading of Etihad Etisalat Company (Mobily), Mobile Telecommunication Company Saudi Arabia (Zain), Etihad Atheeb Telecommunication Company (Atheeb), and Saudi Telecom Company, in the Saudi Stock Excahnge (Tadawul) starting from Sunday 01/01/1438H corresponding to 02/10/2016 until the above mentioned companies announce the impact of the High Order's details on them.