More transparency sought from listed Saudi companies

Companies listed on Saudi Arabia’s main market, the Tadawul, will be required to hold earnings calls twice a year within a set timeframe under draft provisions from the local regulator.

The move aims to strengthen disclosure and transparency between listed companies and their investors and analysts, the Capital Market Authority said in a statement.

The proposals require companies to hold earnings calls within five business days of reporting financial results. The CMA also wants them to make earnings call details available to all investors immediately on their websites.

The proposed provisions are likely to establish earnings calls as a regular practice among companies listed on the Tadawul. However, the statement did not include companies listed on the Saudi junior market, Nomu.

The CMA will receive feedback on the draft calls provision until October 29, 2026.

Last week, the CMA sought consultation on a proposal to tighten rules on the use of borrowed money to trade in overseas financial markets and for initial public offerings.

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