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Robert Eastwood

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Global law firm Baker McKenzie has won three awards at the Middle East Legal Awards 2020 hosted by industry leading media group Legal Week on 5 November 2020. During these unprecedented times of market disruption brought by the COVID-19 pandemic and other geopolitical developments, the firm continues to cement its leading position in the legal industry, having won: “Arbitration Team of the Year” and “Real Estate Team of the Year” for the first time, and…

Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie, London, have advised Saudi Arabian supermarket giant BinDawood Holding Company (BinDawood Holding) on its US$ 585 million IPO, with an implied market capitalization on listing of approximately US$ 2.9 billion. The deal was formally announced on August 31st this year and, following an institutional book building process and retail offering, BinDawood Holding was admitted to listing and trading today. The group operates two key retail grocery brands –…

In brief Following a public consultation period which commenced in December 2019, on 25 August 2020, the Capital Markets Authority (CMA) of Saudi Arabia announced that it had issued amendments to the Securities Business Regulations (SBRs) and the Authorised Persons Regulations (APRs). The ‘new APRs’ are now known as the ‘Capital Market Institutions Regulations’ (CMIRs), following the terminology change from ‘Authorised Persons’ (APs) to ‘Capital Market Institutions’ (CMIs). These amendments represent the first comprehensive revision…

The Capital Market Authority (the CMA) continues to drive  the development of the Saudi capital markets in furtherance of the Saudi Vision 2030’s Financial Sector Development Program with the issue of its draft proposed amendments to some of its key implementing regulations on 23 December 2019. The proposed changes are to its Securities Business Regulations (SBRs) and the Authorised Persons Regulations (APRs), which will presumably become known as the ‘Capital Market Institutions Regulations’ with the…

The Saudi Arabian Monetary Authority (SAMA) announced on 03 March 2020 that it had decided to cut the Repo rate by 50-basis points from 2.25% to 1.75% and Reverse Repo rate by 50-basis points from 1.75% to 1.25%. In the interests of preserving monetary stability, the Repo rate and the Reverse Repo rate were reduced by a further 75-basis points on 16 March 2020 from 1.75% to 1.00%, and 1.25% to 0.50% respectively. On the…