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• CMA: Obligating the CEO and Some Employees of Abdullah A. M. Al-Khodari Sons Company to Pay Approximately SAR 85 Million in Compensation in the Two Class Actions Filed Against Them

  Further to the CMA’s announcement published on its website on 28/03/2025 regarding the issuance of two decisions by the Committee for Resolution of Securities Disputes (CRSD) approving the two class actions filed by an investor (the main Claimant) against the CEO and some employees of Abdullah A. M. Al-Khodari Sons Company (the “Company”), namely: Fawaz bin Abdullah bin Abdulmohsen Alkhodari, Sohail Sa’eed Mohammed Sa’eed, and Kailash Nath Sadangi following the issuance of final decisions convicting them of violating the Capital Market Law and its Implementing Regulations, the CMA announces the issuance of two decisions by the Appeal Committee for Resolution of Securities Disputes (ACRSD) obligating the respondents to pay approximately SAR 85 million to the affected investors who joined the two class actions approved on the above-mentioned date, in accordance with each claimant’s entitlement as determined by the CRSD and upheld by the ACRSD. The ACRSD had previously convicted the violators in two separate decisions for inflating the revenues in the Company's financial statements during the financial period extending from the fiscal year ending on 31/12/2010 to the fiscal year ending on 31/12/2017, which were announced during the period from 16/02/2011 to 31/03/2018, showing the annual financial statements of the fiscal period under violation being untrue, hence creating a false and misleading impression regarding the value of the Company's security, which were proven later on that such financial statements are false based on the announcement of the Company prior to market opening on 13/02/2019, indicating that the Company endured accumulated losses which reached (198.52%) of its capital. The ACRSD also announced in its final decisions at the time the CEO’s responsibility for the Company's announcement published on the website of the Saudi Exchange (Tadawul) on 05/06/2018 that included a false statement regarding a substantial event (Amending the Recommendation of the Company's Board of Directors for the Extraordinary General Assembly to Increase its Capital by Granting New Shares against the Liabilities of the Company), and dismissing the disclosure of cancelling the award of (10) projects and withdrawing them from the Company during the period of 30/05/2017 to 31/01/2020, in an attempt to affect the security's price or urge others to purchase the security. The CMA affirms that investor confidence represents a fundamental pillar for the growth and development of the capital market. The CMA has been keen to activate various tools that facilitate litigation mechanisms and enhance their effectiveness, including the regulation of class actions in disputes involving a large number of investors with unified legal positions and similar facts and legal issues under consideration. This approach is aligned with the nature of the capital market and its broad investor base, contributes to reducing the time required to adjudicate investor compensation cases, enhances the efficiency of the relevant committees, and at the same time, strengthens the unification and focus of investors’ efforts within a more effective and organized procedural framework. Details of the announcement can be found as published on the official website of GS-CRSD through the following link: Announcement of the GS-CRSD – click here

  26/03/2026 18:04:52

• The CMA Allows the Public Offering of Financing Investment Funds and Their Listing on the Main Market and the Parallel Market

  The Capital Market Authority's (CMA's) Board approved the regulatory framework for the development of Financing Investment Funds by approving new amendments to their governing instructions, with the aim of enhancing their role as financing channels in the Saudi capital market, enabling additional financing products that support economic growth and meet investors' needs. The approved amendments aim to enable the public offering of financing investment funds, after offerings were previously limited to private placements, and to allow their listing on the Main Market and the Parallel Market, thereby contributing to the diversification of investment products and increasing total assets under management in the capital market. The amendments included consolidating the provisions governing Financing Investment Funds into a single regulatory document, with the aim of unifying the legislative framework applicable to these funds and enhancing regulatory clarity. The amendments also included approving the change of the title “Instructions on the Direct Financing Investment Funds" to “Instructions on the Financing Investment Funds" covering direct and indirect financing funds, which reflects the expanded scope of activities and the updated regulatory framework governing these funds. The amendments also included developing the regulatory requirements related to the operations and management of Financing Investment Funds, in a manner that enhances their operational efficiency and aligns them with best practices. The new amendments approved a number of requirements related to the risk management of public financing funds, most notably that the total borrowing of a public financing fund may not exceed (15%) of its net asset value. In the event that the financing fund is listed on the Parallel Market, its total borrowing may not exceed (50%) of the total size of the fund. In addition, a public indirect financing fund may not assume exposure to a single beneficiary, or to more than one beneficiary belonging to the same group, at a level of (25%) or more of the total size of the fund, consistent with the requirements applicable to direct financing funds. In addition, the amendments included defining the permitted investment scope for financing funds in a manner that limits exposure to highly volatile or low-liquidity assets, with the aim of effectively managing and enhancing liquidity until financing opportunities aligned with the fund's core objective become available. The amendments also allow private financing investment funds to be open-ended in accordance with specific regulatory requirements, and classify public financing funds as a category of specialized public funds. The amendments also included updated definitions for direct financing funds and indirect financing funds, the introduction of additional obligations on managers of public financing funds, as well as enhanced disclosure requirements within the quarterly and annual reports provided to unitholders of public financing funds, thereby strengthening transparency and governance standards for these funds. This step comes as part of the CMA's ongoing efforts to develop the regulatory framework of the capital market and open new financing channels, supporting economic growth and keeping pace with developments in the financing and investment industry, while enhancing the position of the Saudi capital market as an attractive destination for local and international investors. This follows the CMA's publication, in August, of the Draft Regulatory Framework to the Financing Investment Funds on the Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform) affiliated to the National Competitiveness Center and the CMA's website for public consultation for a period of (30) calendar days. The Instructions on the Financing Investment Funds can be accessed through the following link: The Instructions on the Financing Investment Funds

  26/03/2026 17:52:24

• Saudi Exchange Announces the Listing of Bidaya Finance Sukuk

  Saudi Exchange announces the listing and trading of “Bidaya Finance Sukuk” on Sunday 29/03/2026, with the symbol 5025 and ISIN Code SA16HG0IEGJ0 For more information about “Bidaya Finance Sukuk”, please (click here) to review the prospectus. For more information, please visit Sukuk and Bonds page on our website by (clicking here).

  25/03/2026 15:49:39

• The Securities Depository Center Company (Edaa) Announces the Deposit of Bidaya Finance Sukuk Securities

  The Securities Depository Center Company (Edaa) announces the addition of the subscribed securities in Bidaya Finance Sukuk today, 06/10/1447H, corresponding to 25/03/2026G into the Center’s Accounts of eligible securities’ holders.

  25/03/2026 15:31:56

• Announcement from Saudi Exchange Regarding The Government Debt Instruments

  With reference to the submitted request from Ministry of Finance regarding changes for listed debt instruments issued by the government, The Saudi Exchange announces the changes for the listed debt instruments as follows: - Delist of Issuance number 1002-10 (Tadawul Code: 5213) with a total value of SAR 5,500,000,000 due to maturity.

  24/03/2026 08:15:48