HSBC Saudi Arabia Limited requested the CMA’s approval to acquire assets of SABB Securities Limited, amend its business profile approved by CMA’s Board of Commissioners under resolution no. ( 7-14-2007) dated 1/4/1429H corresponding to 7/4/2007G and increase its capital.

The CMA Board of Commissioners issued a resolution today Sunday 24/7/1432H, corresponding to 26/6/2011G, approving the following:

1.    Acquisition of assets of SABB Securities by HSBC Saudi Arabia.

2.    Amending the business profile of HSBC Saudi Arabia to include Dealing as Agent License. HSBC Saudi Arabia is now authorized to conduct: Dealing as Principal, Agent, and Underwriter, Managing, Arranging, Advising and Custody in the Securities Business.

3.    Increasing capital of HSBC Saudi Arabia from SAR 250,000,000 to SAR 500,000,000.