Riyadh-Mubasher: The new corporate system, to be issued in early May, will obligate the companies whose losses reach 50% of capital to be liquidated, said Chairman of Capital Market Authority.
Mohammed Al-Jadaan added the new system will allow the companies to adjust their financial status, Al-Riyadh newspaper reported.
He added that the regulations were significantly amended, including the foreign investment system that is expected to be issued in early 2017.
"The authority is currently working on reviewing and improving the regulatory framework for offering shares in a public subscription," Al-Jadaan said.
