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The Capital Market Authority ("CMA") invited specialists, interested parties and the public to provide their opinions and comments on the Instructions for the Foreign Strategic Investors' Ownership in Listed Companies("Draft Instructions"), The CMA assured that all suggestions and comments will be taken into consideration for adopting the final version of the Instructions.

This initiative is in pursuance to the Authority's strategic goals to develop the capital market and expand the base of the foreign investments, and in line with Saudi Arabia's Vision 2030. This initiative shall be able to attract foreign investors of experience and expertise to invest in the Saudi listed companies, which will in turn benefit in transferring the operational knowledge and experience and the productive efficiency to the listed companies and open new markets for the Saudi companies' products.

The CMA announced in its statement that the Draft Instructions aims to regulate the provisions, requirements and conditions for the ownership of the Strategic Foreign Investor of a Strategic Shareholding, in addition to determining his obligations and the restriction on him in that regard, further to regulating their disposition mechanism of his owned shares. Moreover, The instructions identified the terms "Strategic Investor" and "Strategic Shareholding" for the purpose of applying its  the provisions.

The Draft Instructions can be viewed via the following link:

Draft Instructions for the Foreign Strategic Investors' Ownership in Listed Companies