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İşlemlerThe Capital Market Authority Licenses Apex FundRock Investment JSC to Conduct Managing Investments and Operating Funds Activity in the Securities Business and its Completion of the Commencements of Business Requirements
In accordance to the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its Implementing Regulations, the Capital Market Authority announces that Apex FundRock Investment JSC has completed the commencements of business requirements to conduct Managing Investments and Operating Funds Activity in the Securities Business licensed as per CMA resolution dated 03/07/1445H corresponding to 15/01/2024G.
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An Announcement from Capital Market Authority regarding the approval of Exchange Traded Fund "Albilad S&P Saudi Equity ETF"
The Capital Market Authority announces that it has issued its resolution approving Albilad Investment Company’s request to offer "Albilad S&P Saudi Equity ETF" units on the Saudi Stock Exchange (Tadawul) as an Exchange Traded Fund. Terms and Conditions (T&Cs) of "Albilad S&P Saudi Equity ETF " can be obtained from the fund manager’s website and the CMA's website, which contain all relevant information that the investor needs to consider before making (or refraining from) an investment decision. An investment decision without reading the T&Cs carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the T&Cs, which include detailed information on the "Albilad S&P Saudi Equity ETF" strategy, objectives and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in Albilad S&P Saudi Equity ETF", taking into consideration the associated risks. And if the T&Cs prove to be difficult to understand, it is recommended to consult an authorized financial advisor. The CMA’s approval of "Albilad S&P Saudi Equity ETF" should not be considered as a recommendation to invest in it. The CMA's approval of "Albilad S&P Saudi Equity ETF" merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
13/11/2024 16:53:37 -
SAUDI EXCHANGE COMPANY ANNOUNCES THE APPROVAL OF THE AMENDED LISTING RULES
The Saudi Exchange announces that the Capital Market Authority’s Board has issued its resolution Dated 4/4/1446H corresponding to 7/10/2024G approving the following: • The Amended Listing Rules. The aim of these amendments is to facilitate listing requirements for debt instruments by reducing the minimum issuance size for Sukuk and Bonds, and excluding Debt Instruments issued by the Kingdom’s development funds and banks and sovereign funds by way of exempt offer in accordance with the Rules on the Offer of Securities and Continuing Obligations from the provisions of part 3 of the Amended Listing Rules, this contributes to stimulating the issuance of sukuk and bonds and activating the debt capital market as one of the main channels for financing business and the economy, without compromising the level of investor protection. It should be noted that the Amended Listing Rules shall be effective starting from its publishing date.
13/11/2024 16:52:30 -
The Capital Market Authority Approves the Largest Set of Regulatory Enhancements Since the Launch of the Sukuk and Debt Instruments Market in Saudi Arabia
The Capital Market Authority (“CMA's") Board has approved the largest set of regulatory enhancements ever made in the sukuk and debt instruments market since its launch in Saudi Arabia. These changes include amendments to the provisions of the Rules on the Offer of Securities and Continuing Obligations related to the issuance of debt instruments, which involve easing the prospectus requirements for different categories of offerings (public, private, and exempted offerings), which will take effect upon their publication. The approved amendments aim to develop the regulatory framework for offering debt instruments in Saudi Arabia, contributing to attracting a wider range of issuers and enhancing the depth and investment in the sukuk and debt market. The amendments approved by the CMA’s Board allow the Kingdom’s development funds, development banks, and sovereign funds to issue debt instruments under an exempt offering, according to specified regulations and conditions. This provides flexibility to meet their financing needs through the debt instruments market and supports the national strategic and developmental objectives. Additionally, the amendments involve easing the requirements for preparing a prospectus for public offerings and simplifying the supporting documents for debt instruments by over 50% compared to the current requirements. Furthermore, the amendments have improved the rules related to public offerings by dedicating a separate section for the regulations governing such offerings, enhancing clarity regarding the regulatory requirements for issuing sukuk and debt instruments while ensuring investor protection by disclosing all material information. As for private offerings, the CMA has abolished the requirement for a time period notification before commencing the offering process. According to the approved amendment, local issuers can now notify the CMA and immediately begin the offering process, catering to companies' needs. This change is expected to enhance the efficiency of the notification process and expedite issuers' access to financing through the sukuk and debt market. These amendments are part of the ongoing development of the sukuk and debt market, aiming to stimulate sukuk and debt issuances to meet companies' financing needs and diversify their funding sources. This, in turn, will positively contribute to the growth of the national economy and further activate the sukuk and debt market as one of the primary channels for financing businesses and the economy. The approval of the Amendments came following the CMA's publication of the draft of “The Proposed Regulatory Enhancements for the Offering of Debt Instruments” 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 Rules on the Offer of Securities and Continuing Obligations can be found at the following link: RULES ON THE OFFER OF SECURITIES AND CONTINUING OBLIGATIONS
13/11/2024 16:35:52 -
Announcement from the Saudi Exchange Company regarding the Accelerated Bookbuild Offering to sell part of the Public Investment Fund’s Stake in Saudi Telecom Co. (STC) – Institutional Tranche Only (Negotiated Deals)
Reference to the published announcement by SNB Capital as a Joint Global Coordinator and Joint Book Runner in the Accelerated Bookbuild Offering to sell part of the Public Investment Fund stake in Saudi Telecom Co. titled “Announcement in Connection with the Launch of the Accelerated Bookbuild Offering to Sell part of the Public Investment Fund’s Stake in Saudi Telecom Company” on the Saudi Exchange website, and with regards to the institutional tranche transactions on Thursday 14 November 2024, corresponding to 12 Jumada Al Oula 1446H in accordance with the Negotiated Deals framework issued by the Saudi Exchange, please note the following: • The Saudi Exchange will facilitate a session prior to the opening auction (pre-market) for only Negotiated Deals on Saudi Telecom Co. on Thursday 14 November 2024, 12 Jumada Al Oula 1446H. • The Negotiated Deals session will allow Members related to the transaction to place Negotiated Deals only on Saudi Telecom Co. (symbol: 7010). • Usual market hours for all listed securities will remain the same, where the opening auction will start at 09:30:00 AM. • Negotiated Deals conducted prior to the opening auction (pre-market) on Thursday 14 November 2024, corresponding to 12 Jumada Al Oula 1446H will be reflected on the Negotiated Deals page on the Saudi Exchange’s website.
13/11/2024 16:28:02 -
Announcement from the Saudi Exchange Regarding the Suspension of Trading the Shares of Ash-Sharqiyah Development Co.
Due to Ash-Sharqiyah Development Co. noncompliance with announcing its financial statements Period ending on 2024-09-30 during the specified period mentioned in the Rules on the Offer of Securities and Continuing Obligations According to the Exchange’s authorities stipulated in the Listing Rules, and to the Procedures of Suspension of Listed Securities, Saudi Exchange announces that it will perform the following: 1. Suspend the trading of Ash-Sharqiyah Development Co. shares on the Exchange for one trading day, dated on Tuesday 10/05/1446, corresponding to 12/11/2024. 2. Ash-Sharqiyah Development Co. shares will resume trading for twenty trading sessions starting from Wednesday 11/05/1446, corresponding to 13/11/2024, following the one day suspension, and the company is required to announce its financial statements before the end of Tuesday 09/06/1446, corresponding to 10/12/2024. 3. In case the company did not announce its financial statements Period ending on 2024-09-30 during the period stated in point (2), trading of Ash-Sharqiyah Development Co. shares will be suspended again starting from Wednesday 10/06/1446, corresponding to 11/12/2024 until the company announces its financial statements Period ending on 2024-09-30
12/11/2024 08:45:09