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Saudi Exchange Company Announces the Publishing of the Draft Amendments to Exchange Rules for Public Consultation
As part of Saudi Exchange Company commitment to involve all concerned and interested parties to participate and share their views on the regulatory framework, the Saudi Exchange Company announces the publishing of the Draft Amendments to the Exchange Rules for public consultation, which can be viewed through the following link:
• The Draft Amendments to the Exchange Rules.
The draft amendments aim to deepen the Saudi Capital Market and facilitate merger and acquisition procedures by regulating offers for the purpose of merger and acquisition, in addition to regulating the concept of Shelf Registration for the purpose of acquiring a company or buying an asset, which will enhance merger and acquisition activity in the capital market and contribute to reducing the related procedural timeline.
Saudi Exchange Company would be pleased to receive your feedback and observations no later than 10/05/2026G corresponding to 23/11/1447H through the following email:
Public.Consultation@tadawulgroup.sa
All opinions and observations shall be considered and assessed during the process of issuing the final versions of the documents.
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The CMA Calls for Public Consultation on Enhancing Merger and Acquisition Processes in the Capital Market
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the development of merger and acquisition transactions in the Saudi capital market and the enhancement of their mechanisms through the amendment and introduction of a number of regulatory concepts in the Merger and Acquisition Regulations and the Rules on the Offer of Securities and Continuing Obligations. The consultation period will last for 45 calendar days, ending on 25/12/1447H, corresponding to 11/06/2026. The Draft aims to deepen the capital market and strengthen its role in capital formation, and to facilitate the procedures for executing merger and acquisition transactions, thereby contributing to expanding the scope of merger and acquisition activities, enabling companies to establish partnerships and efficiently restructure their businesses, and enhancing the competitiveness of mid-sized and growing companies. Among the key proposed regulatory amendments is the introduction of a “shelf registration for the purpose of acquiring a company or purchasing an asset” mechanism. This mechanism enables listed companies to register new shares with the CMA for subsequent use in acquiring a company or purchasing an asset, whether in a single transaction or multiple transactions, without the need to seek new approvals. The offering period shall not exceed three years, thereby expediting the completion of transactions, reducing procedural burdens, and providing companies with greater flexibility and enhanced opportunities to capture growth prospects. To further enhance investor protection against unfair practices in voting on the approval or rejection of merger and acquisition transactions, the proposed regulations provide that where a shareholder in the offeree company, or in either company, has a current or potential personal, financial, or commercial interest beyond their ordinary interests as a shareholder, such shareholder shall be counted toward the quorum of the Extraordinary General Assembly to avoid the lack of quorum and the non-convening of the meeting. However, the shareholder shall be prohibited from voting and shall not be counted in respect of agenda items relating to the offer, while being permitted to vote on the remaining agenda items. The proposed draft also addresses the regulation of information sharing during the negotiation or assessment of merger and acquisition transactions. It permits the disclosure of information at such stages to certain key shareholders in specified cases and subject to strict controls, in a manner that provides them with the necessary information to support the successful completion of the transaction and reduces the risks of trading based on such information. This, in turn, enhances the prospects of successfully completing the transaction and ensures the requirements necessary for its efficient and transparent execution, provided that the CMA is notified and an undertaking is obtained not to trade on the basis of such information in any form prior to its official announcement. This measure supports improving the quality of negotiations and financial evaluation, reduces the risk of information manipulation, enhances confidence, and mitigates the risks of trading based on such information. With respect to the voting of a shareholder who holds shares in both the offeror and the offeree company, the proposed draft enables such shareholders to vote in both companies on the merger or acquisition resolution, whereas previously their voting was limited to only one company. This right is granted provided that the shareholder in the offeree company is not a related party, in order to prevent undue benefit, thereby enhancing transparency and fairness in the capital market. The draft is expected to contribute to improving the efficiency of capital allocation in the national economy, in addition to enhancing the attractiveness of the Saudi capital market by increasing transparency and strengthening the transaction execution environment. The CMA emphasized that the comments of relevant and interested persons, including individuals, government entities, the private sector, and CMA's supervised entities, shall be taken into full consideration for the purpose of approving the final proposed Draft, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following: • The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the Saudi Competitiveness & Business Center through the following link: istitlaa.ncc.gov.sa • The prescribed form through the following email: Laws.Regulations@cma.org.sa The Draft can be viewed via the following links: The Draft Amendments to the Merger and Acquisitions Regulations, the Implementing Regulation of the Companies Law for Listed Joint Stock Company, the Rules on the Offer of Securities and Continuing Obligations and the Glossary of Defined Terms Used in The Regulations and Rules of The Capital Market Authority Prescribed form for providing comments
27/04/2026 16:12:05 -
CMA Announces the Approval of Public Offering of "SICO GCC DIVIDENDS FUND"
The CMA has issued its resolution approving the public offer, by "SICO Capital Company”, of " SICO GCC DIVIDENDS FUND”. An Investment decision without reading the Terms and Conditions carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the Terms and Conditions which includes detailed information on the Fund, investment strategy and risk factors, and carefully study it to be able to assess the feasibility of taking into consideration the associated risks. If the Terms and conditions proves difficult to understand, it is recommended to refer to the fund manager for more information. The CMA's approval of the fund should never be considered as a recommendation to subscribe in the fund, The CMA's approval of the fund merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
27/04/2026 16:07:04 -
Saudi Exchange Company Announces the Publishing of the Draft Amendments to Exchange Rules for Public Consultation
As part of Saudi Exchange Company commitment to involve all concerned and interested parties to participate and share their views on the regulatory framework, the Saudi Exchange Company announces the publishing of the Draft Amendments to the Exchange Rules for public consultation, which can be viewed through the following link: • The Draft Amendments to the Exchange Rules. The draft amendments aim to deepen the Saudi Capital Market and facilitate merger and acquisition procedures by regulating offers for the purpose of merger and acquisition, in addition to regulating the concept of Shelf Registration for the purpose of acquiring a company or buying an asset, which will enhance merger and acquisition activity in the capital market and contribute to reducing the related procedural timeline. Saudi Exchange Company would be pleased to receive your feedback and observations no later than 10/05/2026G corresponding to 23/11/1447H through the following email: Public.Consultation@tadawulgroup.sa All opinions and observations shall be considered and assessed during the process of issuing the final versions of the documents.
27/04/2026 15:57:59 -
The Capital Market Authority approves the capital increase request for Fesh Fash Snack Food Production Company through the issuance of bonus shares
The CMA has issued its resolution approving Fesh Fash Snack Food Production Company's request to increase its capital from SAR (11,300,000) to SAR (19,775,000) through issuing (3) bonus shares for every (4) existing shares owned by the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading day after the due date which will be determined later by the Company's board, such increase will be paid by transferring an amount of SAR (8,475,000) from “Retained earnings” account to the Company's capital. Consequently, increasing the Company's outstanding shares from (11,300,000) shares to (19,775,000) shares, by an increase of (8,475,000) shares. The extraordinary general assembly shall be held within six months from this approval date and the Company shall satisfy all regulatory requirements and applicable laws.
26/04/2026 20:52:55 -
The CMA Calls for Public Consultation on Updating the Financial Technology Experimental Permit Instructions
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the draft update to the Financial Technology Experimental Permit Instructions, for a period of 30 calendar days ending on 10/12/1447, corresponding to 27/05/2026. The proposed update aims to enhance clarity and flexibility in the provisions of these Instructions, thereby supporting innovation in the financial sector and enabling fintech solutions. Among the proposed amendments was the introduction of certain regulatory provisions related to the application submission mechanism and the controls for resubmitting a permit application in the event it had been previously rejected. These provisions require that at least three months elapse from the date the applicant is notified of the rejection decision, and that all observations recorded on the previous application be addressed upon resubmission. In its Draft, the CMA set out a number of regulatory provisions aimed at enhancing the efficiency of supervision and oversight of authorized entities, most notably requiring the expansion of the scope of financial technology to include products and services based on technological solutions that aim to provide financial services related to securities business or the capital market. The Instructions also include proposed regulatory provisions to enhance the governance and efficiency of fintech companies, and introduce business continuity requirements, thereby contributing to the stability of the capital market and enhancing investor confidence. The CMA emphasized that the comments of relevant and interested persons, including individuals, government entities, the private sector, and CMA's supervised entities, shall be taken into full consideration for the purpose of approving the final proposed Draft, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following: • The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the Saudi Competitiveness & Business Center through the following link: istitlaa.ncc.gov.sa. • The prescribed form through the following email: (Laws.Regulations@cma.org.sa ). The Draft can be viewed via the following links: The Draft Updates to the Financial Technology Experimental Permit Instructions Prescribed form for providing comments
26/04/2026 20:49:04