Riyadh – Mubasher: Saudi Arabia forecasts to launch a slew of regulations by the end of next June in a bid to prevent large declines in stocks’ prices of recently-listed firms, Saudi Capital Market (CMA) chairman Mohammed Elkuwaiz said.
The CMA's move is the final regulatory step for the listing of state-owned Aramco.
Over the last two months, the CMA issued updated rules to show how to sell securities in the kingdom, as well as the way of calculating the initial public offering (IPO) price, Reuters reported, citing Elkuwaiz as saying.
After the price stabilisation guideline will be issued, the Saudi bourse will be ready for Aramco’s IPO, Elkuwaiz added.
The CMA expects that it would start working on dual listing rules to be offered to the market by the beginning of 2019, Elkuwaiz noted.
