Ownership limit is 49%… 6 new amendments to foreign investment rules
Today, Friday, the Capital Market Authority approved an amendment to the rules of Foreign investors of all categories, not to exceed 49% of the shares of any listed company. The rules excluded strategic investors from this restriction to enhance the flow of quality investments.
The Authority imposed a ban on non-resident foreign investors, with the exception of Regulation of natural and legal persons Modern regulations of foreign natural and legal persons, whether residents or non-residents, have permitted comprehensive investment in all securities. This includes allowing the trading of debt instruments and investment fund units in accordance with the approved controls. The rules gave the Capital Market Authority the power to exempt any person from applying these provisions, in whole or in part, in order to achieve the interest of the market. The regulations guarantee the right of those affected to file a grievance against the Authority’s decisions before the competent committees to ensure justice. The Authority confirmed that foreign investments are subject to any additional restrictions stipulated in the basic regulations of companies listed on the market. These controls require all investors to follow instructions issued by the competent authorities to ensure a safe investment environment.
