Saudi CMA adopts updated instructions on IPOs | ZAWYA MENA Edition:
"The Capital Markets Authority (CMA) board issued its resolution to adopt the updated instructions on Book Building and Allocation of Shares in IPOs. This updated instructions shall be effective from the date of publication, it said in a press release.
The instructions amendment comes in continuance to the Authority's efforts to regulate the processes of book building and allocation of shares in IPOs, by taking advantage of the past experience of adopting the instructions on 15/10/1437H corresponding with 20/07/2017G, and in line with the best international practices in this field.
The CMA stated that pursuance to its devotion to contact and consult with public investors and government and private entities regarding regulations projects before issuing them, the CMA published the instructions previously to obtain the public's view and opinions. Subsequently, the CMA received many comments and suggestions from different entities and individuals, which all were taken into consideration."
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