As part of the Capital Market Authority's ("CMA") strategic objectives to regulate and develop the capital market, and based on the Capital Market Law issued by Royal Decree No. (M/30) dated 2/6/1424 H, the CMA Board issued its resolution to publish the draft Amendments to the Rules on the Offer of Securities and Continuing Obligations ("Draft Amendments") for public consultation for a period of (30) calendar days ending on 27/2/1443H corresponding to 5/10/2021G.
The Draft Amendments aim at regulating capital increase through issuing shares with the suspension of preemptive rights, including the categories of investors that may be targeted in the associated shares offering, as an additional option for companies listed on the Exchange in addition to the currently available options to increase capital through rights issue, capitalisation issue, debt conversion, acquisition of a company or asset purchase.
The CMA, with full gratitude, would receive the opinions and comments of relevant and interested persons, through any of the following:
- The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the National Competitiveness Center, through the following link: (istitlaa.ncc.gov.sa).
- The prescribed form through the following email: (Laws.Regulations@cma.org.sa).
All comments will be taken into full consideration for the purpose of finalizing the Draft Amendments.
The Draft Amendments can be viewed via the following link:
Draft Amendments to the Rules on the Offer of Securities and Continuing
Prescribed form for providing comments
