CMA amends instructions for Tadawul-listed companies disclosures

Logo of Capital Market Authority's (CMA)

The Capital Market Authority's (CMA) board approved the amended Instructions for Listed Companies Announcements on the Saudi Exchange (Tadawul)-listed joint stock companies, effective as of Jan. 1, 2024.

The move is part of the CMA's continuous efforts to develop and ease disclosure procedures for Tadawul-listed firms. It is in line with the authority’s keenness to help investors make informed, pursuant to the relevant statutory provisions, according to a statement today, Oct. 5.

Among the key changes is the amendment of the format of listed insurance companies’ annual and interim financial statements to align with IFRS 17 Insurance Contracts.

The amended instructions also included the addition of forms for disclosures on capital hike proposals without shareholders' preferential subscription rights as well as those on the impact of one-off events on the company's business, among several others.

The instructions outline the main elements that should be found in all announcements by listed companies on Tadawul's website.

The adoption of the amended instructions is bound to improve and boost the quality of listed companies' disclosures in a way that will benefit all market participants. This is in addition to enhancing investor protection and awareness, the market regulator said.

In 2006, the CMA issued the first version of the Instructions for Listed Companies Announcements. The instructions were updated multiple times over the past years, in accordance with the relevant statutory provisions.

To view the Instructions for Listed Companies Announcements, click here: