​The CMA Board approved amending the regulatory rules and procedures issued pursuant to the Companies Law and its guidance note in light of the enhanced mechanism of tradable rights for listed companies.

In addition, the enhanced mechanism will be applied on the first capital increase by way of rights issue after publishing the amended regulatory rules and procedures issued pursuant to the Companies Law. The enhanced mechanism is developed as part of the CMA's program to achieve the Saudi Vision 2030 which is based on  several themes including, improving the attractiveness of the market and also facilitating manners of investment to make the capital market's environment more stable which would in turn support the national economy and stimulate investments.

In order to reflect the enhanced mechanism on the regulatory rules and procedures issued pursuant to the Companies Law which is related to listed companies, paragraph (1) of Article (44) of the regulatory rules and procedures has been amended to reflect one subscription period for all tradable rights owners as per the enhanced mechanism. Consequently, paragraph (2) of Article (44) of the regulatory rules and procedures has been deleted.

Moreover, the definition of the term "Prospectus" in paragraph (c) of Article (1) from the regulatory rules and procedures has been amended to include rights issues issued by listed companies in the parallel market as well as adding a definition for the Parallel Market Listing Rules.

Additionally, the CMA Board approved amending the instructions of the announcements of the listed companies to reflect the enhanced mechanism of tradable rights as well as the amendments related to regulatory rules and procedures referred to above.

The amended regulatory rules and procedures, the guidance of regulatory rules and procedures, and the instructions of the announcements of the listed Companies are available on the CMA's website.