In pursuance of the Capital Market Authority("CMA") strategic objectives to develop the capital market and to expand the institutional investments base, and in line with the Saudi Arabia’s Vision 2030, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, the CMA Board has issued its Resolution to publish the Draft Instructions for the Foreign Strategic Investors' Ownership in Listed Companies "draft instructions", to obtain the views of public, specialists and interested parties for a period of (30) calendar days ending on 20/12/1439H corresponding to 31/08/2018G.
It is worth noting that the main objectives of the Draft Instructions is to regulate the provisions, requirements and conditions for the ownership of the strategic foreign investor in listed companies, in addition to determining their obligations and the restriction on them in that regard.
Moreover, the Authority, with full gratitude, would like to receive the opinions and remarks of relevant and interested persons, through any of the following channels:
Fax number (+966114906460); or
Mail address (P.O. Box 87171 Riyadh 11642, CMA Deputy for Legal Affairs and Enforcement – Laws and Regulations Department).
All opinions and remarks will be taken into consideration in order to finalize the instructions.
The draft Instructions can be viewed via the following link:
Draft Instructions for the Foreign Strategic Investors' Ownership in Listed Companies
