TAG-Capital Licensed in Saudi Arabia

The Capital Market Authority (CMA) Saudi Arabia announced its approval for licensing Talal Abu-Ghazaleh Capital Services (TAG-Capital), in order to provide activities of regulation and consultation in the area of securities

RIYADH - November 29, 2008, The Capital Market Authority (CMA) Saudi Arabia has announced its approval for licensing Talal Abu-Ghazaleh Capital Services (TAG-Capital), in order to provide activities of regulation and consultation in the area of securities.

The approval stated that ?as part of the responsibility of the Capital Market Authority and its efforts to develop this sector, in addition to a desire to increase the number of companies that offer services to investors in the field of securities, the council of the Capital Market Authority has decided on November 24, 2008 to approve the licensing of Talal Abu-Ghazaleh Capital Services, so that it may practice regulation and consultation in securities?.

The Executive Director of the Talal Abu-Ghazaleh Organization (TAG-Org) in Riyadh, Mr. Haitham Abu-Ghazaleh, explained that regulation involves initial public offerings (IPOs), private placement memorandums (PPMs), capital restructuring, valuation and the process of mergers, purchasing and acquisitions.

As for consultation, he said that it includes providing consultative services to all kinds of companies such as those publicly and privately listed.