Saudi Arabia tightens IPO rules, requires underwriters to purchase all offered shares

RIYADH: Saudi Arabia's Capital Market Authority has approved new regulatory provisions aimed at improving initial public offering practices, tightening book-building requirements, strengthening underwriters' responsibilities and requiring companies to disclose forward-looking financial projections. The measures are designed to improve the efficiency of IPOs and enhance the reliability of information available to investors, Asharq Al-Awsat reported. Under the new provisions, underwriting agreemen