The issuer must appoint two representatives; a director and a senior executive as a … The Saudi Stock Exchange (Tadawul) is the sole entity authorized in the Kingdom of Saudi Arabia to act as the kingdom's securities exchange (the Exchange), listing and trading in securities. ready and aware of the updated listing requirements, the ongoing reporting requirements, as well as the wider necessity of a strong equity story to attract investors. Appointments of representatives. Share . For more information on the competition and government procurement rule press here, For more information on the preference regulation press here, Inclusion of all listed companies on SAFWAH program, Raising the funding limits for listed companies projects in the targeted sectors (health, education and real estate development "Mega Projects") An issuer who is applying for listing of its securities must retain copies of all documents required by Article 16of these Rules for a period of not less than ten years from the date the application for listing has been made. Updating listing rules to accommodate foreign listing, Nomu – Parallel Market direct listing and allowing its issuers to transfer to the Main Market. Providing a relationship manager for listed companies to help settle all transactions with the Authority and follow up on all tasks related to zakat or income taxes. Plans now target a listing of the state-owned oil giant’s shares in 2021 or 2022 . Additional information: All of Tadawul’s sustainability work is underpinned by honoring its national responsibilities of adopting regulatory and market best practices, fostering market literacy and investor protection and delivering on its socio-economic responsibilities. The Offering & Listing process takes the following criteria into consideration: The issuer must be a joint stock company. The Tadawul All-Share Index (TASI) reached its highest point at 20,634.86 on 25 February 2006. Saudi Aramco has officially listed on the Saudi Stock Exchange (Tadawul) today, marking the successful Initial Public Offering of the Company. Cp�-k���>�����Ɯ a l�,(>��i�Kci�P0�~�d�䦱e)��&O6�5fLu,�Ս�i�Tm�a��Z&�J-$����q�Y�Rc \�tTģ&M����L��7� According to Article (17) in the Executive regulation of New Professional Corporations Law: now it is allowed for a professional company to transform into a joint stock company or any other company form mentioned in the third article of the New Professional Corporations Law according to the corporation’s law provisions except for their registration in the commercial register, and that after fulfilling the conditions and provisions stipulated in the regulations and law. “Talks are ongoing as there is a growing desire of major GCC companies and outside the region to be dual listed on Tadawul,” Al-Rumaih told Al Arabiya TV. The Saudi Stock Exchange (Tadawul) published the amended listing rules for public consultation. Register here. The Offering & Listing process takes the following criteria into consideration: The issuer must be a joint stock company. Saudi Arabia's stock exchange, Tadawul, will allow foreign companies to list on its exchange. Annual Returns. time of listing and all investors must be provided with appropriate information to enable dealings in such securities to take place on an open and fair basis. Prevailing wages must be paid to covered workers on public works projects, whether they are employed by the general contractor, a filed sub-bidder, or any sub-contractor. In addition, the Instructions of Book Building Process and Allocation Methods in IPOs do not apply to shares offerings and the Corporate Governance Regulation will be deemed indicative with respect to the information required to be included in the Board's report. The new equity market is designed to attract small and medium-sized enterprises (SMEs), and will be established in … Saudi Arabia has seen a flurry of new share offerings this year, in contrast to some of its neighbors. Parallel market – Nomu. 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