Riyadh-Mubasher: Saudi Arabia plans to double the size of its stock market by adding dozens of companies and making it easier for foreigners to invest, Bloomberg reported.
All Share Index will rise to 250 companies from about 170 at present, the news agency quoted Mohammed Al Jada’an, chairman of the Capital Market Authority (CMA).
The current value of listed companies stands at about 57% of GDP, Al Jada’an noted.
The CMA is working on introducing derivative products and real estate investment trusts (Reits) by the end of the year, according to Bloomberg.
There are also plans for a secondary stock exchange for small and medium-sized enterprises, the Chairman said.
