ADX requires companies to disclose their quarterly financial data on time

Abu Dhabi Securities Exchange, ADX, issued a circular on Wednesday requesting listed companies to submit a reviewed quarterly financial report within 45 days from the end of any quarter along with Board of Directors’ report or a management discussion and analysis.

ADX circular highlights the importance of disclosure, transparency of financial information, and financial statements of listed companies for the benefit of all investors and securities dealers.

According to the circular, the listed company should provide its financial reports approved from its executive management and prepared on the basis of International Financial Reporting Standards, IFRS.

The listed company should disclose its financial statements either before or after the trading session, ADX said, adding that all companies must follow the guidelines when preparing a board report or management report.