Riyadh – Mubasher: Five companies from across the GCC have expressed interest in the listing their shares on the Saudi Stock Exchange (Tadawul), Al-Eqtisadiah newspaper reported, citing Tadawul CEO Khalid Al Hussan as saying.
The firms, whose locations were not disclosed, are in talks with Tadawul over the required listing mechanisms.
There are dozens of firms who are considering entering the Saudi market, the top official explained, noting that these firms were awaiting related legislations and approvals which would be finalised “soon.”
Al Hussan further revealed that several local Saudi firms were also considering listing and have already taken steps by hiring advisers to manage their listings on Tadawul and the Nomu Parallel Market.
Last week, global equity, fixed income, hedge fund stock market index provider MSCI and Tadawul unveiled the launch of the tradable index which includes the 30 biggest companies listed on the Saudi kingdom’s bourse. MSCI did not reveal the names of the companies that would be included in the index.
“Today’s launch is a significant step forward in facilitating the creation of a derivatives market for Saudi Arabia and advancement of the Vision 2030 financial sector development programme,” Al Hussan had said in a comment following the launch.
