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Apr 14, 2020

Offering Securities in the Kingdom of Saudi Arabia

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OFFERING SECURITIES IN THE KINGDOM OF SAUDI ARABIA

On 6 October 2019, the Saudi Arabian Capital Market Authority (the CMA) published the amended Rules on the Offer of Securities and Continuing Obligations (the ROSCO), which were approved by CMA Board Resolution No. 1-104-2019 dated 01/02/1441H (corresponding to 30 September 2019). In the same Board Resolution, the CMA Board also approved the amended Listing Rules (the Listing Rules) of the Saudi Stock Exchange (Tadawul).

This article sets out a high-level overview of the new legal framework governing the offering of securities in the Kingdom of Saudi Arabia (the Kingdom).

View full memo, “Offering Securities in the Kingdom of Saudi Arabia.”

Authors and Contributors

Marwan Elaraby

Partner

Capital Markets

+971 4 249 2123

+971 4 249 2123

+971 2 410 8123

+971 2 410 8123

+1 212 848 4947

+1 212 848 4947

Dubai

Dr. Sultan Almasoud*

Partner

Mergers & Acquisitions

+966 11 213 7801

+966 11 213 7801

* Partner, Dr. Sultan Almasoud & Partners in Association with Shearman & Sterling LLP

* Partner, Dr. Sultan Almasoud & Partners in Association with Shearman & Sterling LLP

Riyadh

David Dixter

Partner

Capital Markets

+44 20 7655 5633

+44 20 7655 5633

London

Pawel J. Szaja

Partner

Capital Markets

+44 20 7655 5013

+44 20 7655 5013

London

Matthew Powell

Partner

Mergers & Acquisitions

+971 4 249 2125

+971 4 249 2125

+971 2 410 8125

+971 2 410 8125

Dubai

Brendan Hundt

Counsel

Project Development & Finance

+966 11 213 7805

+966 11 213 7805

+971 2 249 2160

+971 2 249 2160

Riyadh

Sanjarbek Abdukhalilov

Consultant

Mergers & Acquisitions

+966 11 213 7802

+966 11 213 7802

Riyadh

Regional Experience