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Tadawul says finalising steps to list GCC, foreign firms

Tadawul says finalising steps to list GCC, foreign firms
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By Mohamed Abu Meleeh

Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) is currently awaiting the finalising of listing rules that will include regulations for the listing of GCC and foreign companies on the local stock market, said Khaled Al-Hassaan, GM for Markets at Tadawul.

The transfer of powers to Tadawul from the market regulator CMA will include setting mechanisms for listing GCC and foreign companies, the official added.

In May, 2014, UAE’s Eshraq Properties signed a deal with Banque Saudi Fransi (BSF) to advise on the dual listing on Tadawul and Abu Dhabi. Analysts told Mubasher the entry of Mashreq into Tadawul will be a cornerstone for GCC markets.

Translated by Sayed Abdel Rahman