‎Tadawul seeks to enable dual listing on strong demand

‎Tadawul seeks to enable dual listing on strong demand

Tadawul seeks to enable dual listing on strong demand

Saudi Tadawul Group Holding Co. (Tadawul Group) confirmed that it seeks to develop the necessary infrastructure to enable dual listings in several markets through partnerships and linkage agreements.

It pointed out that dual listings witnessed strong demand, especially from issuers and foreign investors, Al Eqtisadiah newspaper reported.

The group added that it started to encourage issuers from outside Saudi Arabia to consider dual listing in the Saudi Exchange (Tadawul), indicating that it received several inquiries in this regard.

Financial technology, environmental and social practices, as well as corporate governance are among the important areas that will contribute to achieving Tadawul Group’s goal of becoming a preferred investment destination linking global markets in the East and West.

Tadawul Group continues to explore these areas by signing memorandums of understanding (MoUs) and agreements with global financial markets to identify new opportunities and enhance the progress and integration of the Saudi exchange.

The group signed nine agreements and MoUs to boost cooperation with regional financial markets. The agreements are related to dual listing, information exchange, and exploration of the best environmental, social, and corporate governance practices.

Further, the group added that it aims to attract new companies and encourage them to list their shares on Tadawul, as the additional liquidity secured from these listings will contribute to enhancing the performance of the Saudi market.

The dual listings attract international investors, expand investor base in the Saudi market, and boost its position globally.

In December 2022, Tadawul witnessed the first dual listing of Americana Restaurants, as a concurrent and dual listing in Saudi Arabia and UAE.

Read More

Leave a Reply

Your email address will not be published.