Domestic issuers will welcome the amendments as they largely clarify or formalize existing CMA practices.

Introduction -

Further to the continuous efforts of the Capital Market Authority (the CMA) in the Kingdom of Saudi Arabia (the Kingdom) to further enhance the regulatory framework for listing securities on the Saudi Stock Exchange (Tadawul), the Board of the CMA recently adopted new amendments to the Listing Rules pursuant to resolution Number (1-38-2016) dated 22/6/1437H (corresponding to 31 March 2016G) (the Listing Rules). This Client Alert provides a general overview of the newly adopted amendments and their potential effect on current and upcoming public listings of companies in the Kingdom.