CMA approves amendments to rules on offer of securities to regulate additional option for capital increase

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The Capital Market Authority's (CMA) board approved today, March 3, the amendments to the rules on the offer of securities and continuing obligations. It also endorsed the glossary of defined terms used in CMA's regulations.

These amendments are aimed to regulate an additional option for capital increase, the CMA said.

They also aim at regulating capital increase through share issuance with the suspension of preemptive rights in accordance with Article 140 of the Companies Law, including determining the categories of investors that may be targeted in the associated shares offering and setting the maximum increase in capital through share issuance with the suspension of preemptive rights at 15% of the issuer's capital for each capital increase, as an additional option for companies listed on the Exchange in addition to the currently available options to increase capital through rights issue, capitalisation issue, debt conversion, acquisition of a company or asset purchase, and to add the term "share issuance with the suspension of preemptive rights" to the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority.