CMA seeks public opinion on price stabilization draft
Saudi Arabia’s Capital Market Authority (CMA) is seeking public views on the draft instructions on the price stabilization mechanism for initial public offerings (IPO), within 30 days ending on July 9.
The draft instructions aim to regulate the price stabilization activities on shares of listed firms after the IPO, the market regulator said in a statement on Sunday.
The instructions also aim to regulate the price stabilization manager activities and determine the requirements needed to be met. In addition, they clarify the relevant disclosures, the price stabilization period and the maximum percentage of the total number of shares allowed for the over-allotment option, the statement said.