CMA fines GO Telecom for violating listing rules

3 Jan 2018

The Saudi Capital Market Authority (CMA) has fined Etihad Atheeb (GO Telecom) SAR100,000 (USD26,600) for violating listing rules, the regulator said in a statement. ’The company presented misleading and incorrect information to the CMA related to the latest developments in the results of its participation and winning of the bidding offer of the 700MHz and 1800MHz bandwidth frequencies, organised and supervised by the Communications and Information Technology Commission [CITC],’ the statement said. A fine of SAR40,000 was also imposed on the telco for failing to announce a major development on the Tadawul website in June last year.