Saudi market regulator said to ease M&A, listing rules

Saudi Arabia is set to issue new regulations that would ease and encourage listings, mergers and acquisitions among Saudi-listed companies, Bloomberg reported, citing Mohammed El-Kuwaiz chairman of the Capital Market Authority (CMA).

“The expectation is that we will be able to pass these rules in a month’s time,” El-Kuwaiz was quoted as saying on the sidelines of a Saudi Arabian capital markets event arranged by Deutsche Bank AG in London.

These regulations are expected to ease the conditions that have constrained mergers and acquisitions among listed companies.

The Kingdom’s market regulator is currently reviewing initial public offering applications for about five companies, El-Kuwaiz said, adding that as many as 30 companies have mandated advisers as they consider potential share sales in Saudi Arabia.