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İşlemlerThe Capital Market Authority approves the capital increase request for Bena Steel Industries Company through the issuance of bonus shares
The CMA has issued its resolution approving Bena Steel Industries Company’s request to increase its capital from SAR (50,000,000) to SAR (60,000,000) through issuing (1) bonus share for every (5) 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 (10,000,000) from “Retained earnings” account to the Company's capital. Consequently, increasing the Company's outstanding shares from (5,000,000) shares to (6,000,000) shares, by an increase of (1,000,000) 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.
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The Capital Market Authority Calls for Public Consultation on the Development of the Provisions Regulating the Buyback and Selling of Listed Companies Shares
The Capital Market Authority (“CMA") called upon relevant and interested persons participating in the capital market on the Draft Amendments of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies (“Draft”) for public consultation for a period of (30) calendar days ending on 30/12/1445 corresponding to 06/07/2024. The Draft aims to develop the provisions regulating the buyback or selling of shares by listed companies to grant more flexibility and improve the execution of the buyback or sale of these shares. Additionally, this aims to reduce the restrictions imposed on them, which will positively impact the efficiency of investment in the Saudi capital market in line with global practices. The proposed amendment provides greater flexibility by developing the regulations for buyback or selling shares of listed companies, by removing the link between the quantities of companies buying or selling their shares during one trading day to the approved quantity, stipulating instead that the buybacks or sales in a single trading day should not exceed 25% of the average daily trading volume of the company's shares over the last five trading sessions preceding the buyback or sale. It is worth noting that the regulations of the Companies Law for listed joint stock companies specify the approved quantities of shares that a company can buy or sell. These are the purchase quantities determined and approved by the extraordinary general assemblies of listed companies or the sale quantities of treasury shares determined and approved by the board of directors, provided it did not conflict with the assembly's buyback decision. The boards of directors must complete the purchase process within a maximum of 12 months from the date of the assembly's decision. The Draft is part of the CMA’s efforts to develop the capital market and regulate trading operations, whether in the purchase or sale of treasury shares by listed companies. The CMA announced that the comments of relevant and interested persons shall be taken into full consideration for the purpose of finalizing the draft amendments. Such comments can be posed through any of the following: • The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform “Istitlaa”), affiliated with the National Competitiveness Canter (NCC) 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 link: The Draft Amendments to the Implementing Regulation of the Companies Law for Listed Joint Stock Companies Prescribed form for providing comments
06/06/2024 18:33:45 -
Announcement from the Saudi Exchange Company regarding Saudi Arabian Oil Company (Saudi Aramco) Secondary Public Offering – Institutional Tranche (Negotiated Deals)
Reference to the published announcement by SNB Capital as the lead manager of Saudi Arabian Oil Company (Saudi Aramco) Secondary Public Offering titled “Announcement in connection with the launch of a secondary public offering of ordinary shares of the Saudi Arabian Oil Company (“Saudi Aramco”)” on the Saudi Exchange website, and with regards to the institutional tranche transactions on Sunday 09 June 2024, 03 Dhu’l-Hujjah 1445H 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 Arabian Oil Company on Sunday 09 June 2024, 03 Dhu’l-Hujjah 1445H. • The Negotiated Deals session will allow Members related to the Saudi Arabian Oil Company Secondary Public Offering to place Negotiated Deals only on Saudi Arabian Oil Company (symbol: 2222). • 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 Sunday 09 June 2024, 03 Dhu’l-Hujjah 1445H will be reflected on the Negotiated Deals page on the Saudi Exchange’s website.
06/06/2024 15:29:26 -
The Securities Depository Center Company (Edaa) Announces Implementing a Corporate Action on Thimar Development Holding Co. Securities
The Securities Depository Center Company (Edaa) announces implementing securities quantity decrease for Thimar Development Holding Co. on the Center’s Accounts of eligible securities’ holders today 29/11/1445H, corresponding to 06/06/2024G.
06/06/2024 08:38:46 -
The Capital Market Authority Announces the Approval on the Registration and Offering shares of SAMA Healthy Water Factory company in the Parallel Market
The Capital Market Authority "CMA" Board has issued its resolution dated on 28/11/1445H corresponding to 05/06/2024G approving of Sama Healthy Water Factory company "the Company" application for the registration and offering of (10,000,000) shares representing (20%) of the Company's share capital in the Parallel Market. The offer will be confined to Qualified Investors stipulated in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority. The prospectus will be published within sufficient time prior to the start of the offering. Prospective Qualified Investors should conduct their own due diligence on the information disclosed in the prospectus. 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 never be considered as a recommendation to invest in the offering or shares of the company. 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 Company's shares are not completed within this period.
05/06/2024 20:46:57 -
The Capital Market Authority Announces the Approval on the Registration and Offering shares of Mufeed company in the Parallel Market
The Capital Market Authority "CMA" Board has issued its resolution dated on 28/11/1445H corresponding to 05/06/2024G approving of Mufeed company "the Company" application for the registration and offering of (600,000) shares representing (9.09%) of the Company's share capital in the Parallel Market. The offer will be confined to Qualified Investors stipulated in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority. The prospectus will be published within sufficient time prior to the start of the offering. Prospective Qualified Investors should conduct their own due diligence on the information disclosed in the prospectus. 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 never be considered as a recommendation to invest in the offering or shares of the company. 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 Company's shares are not completed within this period.
05/06/2024 20:44:14