Saudi Exchange Announces the Listing of “Balady Poultry Trading Co.”
Saudi Exchange announces the listing and trading shares of “Balady Poultry Trading Co.” on Nomu – Parallel Market on Sunday 19/03/2023, as a direct listing with the symbol 9559 and ISIN Code SA15OHDKLBH0, with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.
For more information about “Balady Poultry Trading Co.””, please (click here) to review the registration document.
For more information, please visit Nomu – Parallel Market Page on our website by (clicking here).Back to Market News
The Capital Market Authority Announces the Approval on the Registration and the Public Offering of Middle East Healthcare Company’s Debt Instruments Program
The Capital Market Authority (“CMA”) announces the issuance of its Board resolution dated 1445/05/20 AH corresponding to 2023/12/04 AD approving the application of Middle East Healthcare Company (“Issuer”) for the registration and public offering of the debt instruments within a program that does not exceed the value of (1.5) billion Riyal. The prospectus will be published within sufficient time prior to the start of the subscription period. The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the financial statements of the issuer and adequate information about its activities and management, in addition to the details of the issuance program mentioned above. A subscription decision without reading the prospectus carefully and fully reviewing its content, may involve high risks. Therefore, investors should carefully read the prospectus which contains detailed information about the issuer, offering and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision. The CMA’s approval on the application should not be considered as a recommendation to subscribe in the offering or the debt instruments of the issuer. The CMA's approval on the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met. The CMA’s approval on the application shall be valid for (6) months from the CMA Board resolution date. The approval shall be deemed cancelled if the offering and listing of the issuer’s first intended tranche of the debt instruments of the program is not completed within this period.04/12/2023 18:42:18
The Capital Market Authority approves Middle East Paper Company's request to increase its capital through shares offering with the suspension of preemptive rights
The CMA announces its resolution approving Middle East Paper Company's request to increase its capital through offering (19,999,999) shares with the suspension of preemptive rights valued at SAR (629,999,968.50). The shares offering resulting from the capital increase will be limited to investors categories stipulated in the Rules on The Offer of Securities and Continuing Obligations and as specified in the prospectus. The approval of the extraordinary general assembly of the Issuer must be obtained within six months from CMA’s approval date and the Issuer must satisfy all related regulatory requirements and applicable laws. After reviewing the Issuer's application in light of the governing regulatory requirements, and the quantitative and qualitative criteria applicable to all Issuers requesting a capital increase, the CMA has issued its resolution approving the Issuer’s capital increase request highlighted above. The shares issuance with the suspension of preemptive rights prospectus will be posted and made available to the public at a later time. The Shareholder’s voting decision to increase the Issuer’s capital with the suspension of preemptive rights based on an announcement of the Issuer’s capital Increase, whether the announcement is a recommendation from the Issuer’s board of directors or in a form of CMA’s approval, without carefully reading the shares issuance with the suspension of preemptive rights prospectus and fully reviewing its content, may involve high risk. Therefore, Shareholders must carefully read the prospectus, which contains detailed information on the Issuer, the offering and risk factors, to make an informed vote at the relevant extraordinary general assembly. If the prospectus proves difficult to understand, it is recommended to consult an authorized financial advisor. The CMA's approval of the prospectus should never be considered as a recommendation to participate in the offer nor invest in the Issuer's shares. The CMA's approval of the prospectus merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.04/12/2023 18:38:38
Aiming to Boost Protection of Client Money and Assets and Market Participant Confidence The CMA’s Board Approves the Amendments to the Capital Market Institutions Regulations
The Capital Market Authority’s (“CMA’s") Board approved the Amendments to the Capital Market Institutions Regulations (“Amendments to the Regulations") and the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority, which comprise developing the provisions regulating capital market institutions bankruptcy, which shall be effective as of the date of their publications. This is in order to enhance the protection of clients' funds and assets and the confidence of participants in the capital market, thus promoting stability in the capital market and supporting its growth and prosperity. The CMA reported that the Regulations have specified the provisions regulating capital market institutions in case of bankruptcy according to two paths. The first is for the capital market institutions that hold clients’ money or assets or manage investment funds. These institutions must obtain the CMA’s approval along with a written acknowledgment from an auditor registered with the CMA that there is no deficit in clients’ money and assets that the capital market institution holds, before filing a petition for the initiation of any of the bankruptcy procedures or judicial depository with the competent court. The second path is for the capital market institutions that do not hold clients’ money or assets nor manage investment funds. These institutions must notify the CMA at least (30) days in advance of filing a petition before the competent court and accompanying a written acknowledgment from an auditor registered with the CMA that the Capital Market Institution does not hold clients’ money or assets nor manage investment funds. The CMA, during this period, may direct the capital market institutions to take any appropriate procedure that is necessary to protect clients’ rights. The approved Amendments to the Regulations clarified the CMA's authority to direct the capital market institution to take any measures, as the CMA deems necessary, by virtue of the Capital Market Law, its Implementing Regulations, and the Bankruptcy Law, to boost the protection of clients’ rights and the transfer of their money and assets including completing any outstanding business or transferring it to another capital market institution. The CMA has published the Draft Amendments to the Capital Market Institutions Regulations 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 CMA aims to develop and raise investment efficiency and boost investor protection, in addition to enhancing the Saudi capital market attractiveness to foreign and local investment in line with the CMA’s strategic plan that comes in line with the objectives of the Kingdom Vision 2030. The new Amendments to the Regulations that have been approved in the Capital Market Institutions Regulations and the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority can be viewed via the following link: The Capital Market Institutions Regulations The Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority04/12/2023 18:35:06
The Securities Depository Center Company (Edaa) Announces the Deposit of Salama Cooperative Insurance Co. Subscribed Securities
The Securities Depository Center Company (Edaa) announces the deposit of Salama Cooperative Insurance Co. subscribed securities into the Center’s Accounts of eligible securities’ holders today, 20/05/1445H, corresponding to 04/12/2023G.04/12/2023 08:44:30
The Securities Depository Center Company (Edaa) Announces the Deposit of National Agricultural Development Co. Subscribed Securities
The Securities Depository Center Company (Edaa) announces the deposit of National Agricultural Development Co. subscribed securities into the Center’s Accounts of eligible securities’ holders today, 20/05/1445H, corresponding to 04/12/2023G.04/12/2023 08:43:12