Five GCC-based firms seeking to list on Tadawul: report

Five GCC firms have unofficially asked the Saudi Stock Exchange (Tadawul) to list their shares on the market, Khalid Al Hussan, chief executive officer of Tadawul, told Al-Eqtisadiah newspaper.

“Tadawul is in talks with those companies on the required listing mechanisms,” Al Hussan said, adding that “dozens of firms are looking to enter the Saudi market, but they are waiting for the related legislations that will be finalized soon.”

“Meanwhile, some local firms have started hiring advisers to list their shares on Tadawul and Nomu Parallel Market,” he added.

In October 2017, Tadawul announced plans to allow GCC-based companies to cross-list on the exchange starting next year, Argaam earlier reported.