Amending the rules for offering debt instruments and financing deals


The Board of the Capital Market Authority approved the amendment of the rules for offering securities and continuing obligations and the list of terms used in the Capital Market Authority’s bylaws and rules. The most prominent elements of the amendments are the amendment of the rules for the offering of securities and the continuing obligations in relation to the requirements of the minimum amount due for each offering (non-investors in the category of eligible clients and institutional clients) in the limited offering, and limiting the offering of contractual securities that are not listed to the cases where In it, all those offered are investors from the category of qualified clients and institutional clients, or employees of the source or any of its affiliates. It also includes amending the rules for offering securities and continuing liabilities in light of the rules governing the modified special purpose establishments, in relation to the structure of the special purpose entity that issues debt instruments, in addition to a number of amendments regarding the offering of debt instruments by special purpose entities.

Amending the rules for the offering of securities and continuing obligations regarding the period of the Authority’s review of the request to register and offer debt instruments, or the registration and offer of convertible debt instruments, and the request for approval of the financing deal related to the public offering of debt instruments to be 20 days from the date of receiving all the information and documents required under the rules . The authority said in a statement that the amendments aim to organize and build an advanced financial market with an active and pivotal role in supporting the growth and sustainability of companies in the financial market, to become an advanced market that supports the development of the national economy and increases the efficiency of the financial sector. It also comes in light of the development of customer classification categories, the requirements of customer knowledge, understanding of risks, and the development of the structure of the special purpose facility, in line with best practices and international standards.

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