The CMA: Compensation for Investors Affected by Violations Committed in the Shares of “Watani Iron Steel Co.”

RIYADH, Saudi Arabia, July 25 (Bernama) -- The Capital Market Authority (CMA) announces the completion of compensation for investors affected by the violations committed in the shares of Watani Iron Steel Co., which occurred before and after the company’s direct listing on the Parallel Market (Nomu). These violations were committed by five individuals convicted under the decision issued by the Appeal Committee for Resolution of Securities Disputes (ACRSD), published on the websites of the CMA and the GS-CRSD on April 4, 2024. The decision, resulting from the penal lawsuit filed by the Public Prosecution and referred by the Capital Market Authority, obligated them to pay SAR 41.4 million in illegal gains resulting from these violations.

The compensations were deposited into the accounts of the affected investors through the Compensation Fund, which was established pursuant to a resolution of the CMA’s Board to compensate affected parties in accordance with the distribution plan approved by the CRSD. This facilitates the compensation process and ensures that entitlements are delivered to their rightful owners with minimal effort.