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Published on the same date

An announcement of the issuance of the Board of the CMA resolution dated 15/10/1437H corresponding to 20/07/2016G to adopt The Instructions of Book Building Process and Allocation Method in Initial Public Offerings (IPOs).

​As part of the Capital Market Authority's efforts to develop the Capital Market in the Kingdom and protect investors, regulate and monitor the work and activities of the entities subject to the control and supervision of the Authority. Based on the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424 H, the CMA Board issued its Resolution Dated 15/10/1437H, corresponding to 20/07/2016G, to adopt the Instructions of Book Building Process and Allocation Method in Initial Public Offerings (IPOs). These Instructions shall become effective on 03/04/1438H corresponding to 01/01/2017G and the financial advisor, after taking the issuer consent, may apply these instructions on any offering before that date.

These instructions aim to regulate the Book Building Process and the Allocation Method in Initial Public Offerings, taking into consideration the concerned and interested parties comments and observations.

The Instructions can be viewed on CMA’s website via the following link:

The link