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CMA board issues its Resolution approving the Rules of Offering Securities and Continuing Obligations and approving Listing Rules

As part of the Capital Market Authority's continuous efforts to develop the capital market in the Kingdom and protect investors, and in pursuance to the CMA’s Financial Leadership Program 2020, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, the CMA Board has issued its Resolution approving the Rules of Offering Securities and Continuing Obligations, and the updated Glossary Of Defined Terms Used In The Regulations And Rules Of The Capital Market Authority and approve the Listing Rules,  and the updated Glossary Of Defined Terms Used In The Exchange Rules which will be effective from 15/7/1439H corresponding to 1/4/2018G, except for the definition of "Qualified Investor" set out in the updated Glossary Of Defined Terms Used In The Regulations And Rules Of The Capital Market Authority and the updated Glossary Of Defined Terms Used In The Exchange Rules,  paragraph and (f) of article (71) of the Rules of Offering Securities and Continuing Obligations, and paragraph (b) of article (40) of the Listing Rules which will be effective starting from 31/12/2017G.
The resolution also included that the rules of offering securities and continuing obligations, starting from their effectivity date, shall replace the Offer of Securities Regulations issued under the Board Resolution no. (2-11-2004) dated 20/8/1425H, corresponding to 4/10/2004G, amended under Board resolution no. (3-151-2016) dated 22/3/1438H corresponding to 21/12/2016G, the Listing Rules issued under the Board Resolution no. (3-11-2004) dated 20/8/1425H corresponding to 4/10/2004, amended under Board resolution no. (1-64-2016) dated 19/8/1437H corresponding to 26/5/2016G, and the Parallel Market Listing Rules issued under the Board resolution no. (3-151-2016) dated 22/3/1438H corresponding to 21/12/2016G.
It's worth mentioning that the Rules of Offering Securities and Continuing Obligations aims to regulate the offering of securities in Saudi Arabia. It includes the conditions of the offer of securities, identifies the requirements of listing and offering, and the conditions and requirements of capital changes. In addition to regulating the continuing obligations on issuers whom their securities are listed in the Main Market, and the process of listing and offering shares in the Parallel Market.
Also, the Listing Rules aims to regulate the listing of securities, the continuing obligations on the issuers of listed securities, the suspension of trading listed securities and delisting of listed securities.
The Rules of Offering securities and continuing obligations and the updated Glossary Of Defined Terms Used In The Regulations And Rules Of The Capital Market Authority can be reviewed through the following:

Rules of Offering securities and continuing obligations

Glossary Of Defined Terms Used In The Regulations And Rules Of The Capital Market Authority

 

The Listing Rules and the updated Glossary Of Defined Terms Used In The Exchange Rules can be reviewed through the following:

Glossary of Defined Terms Used in the Exchange Rules

Listing Rules

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