Saudi Arabia’s stock exchange Tadawul has received the approval to list foreign companies operating in the kingdom or in the region, Trade Arabia reports.
The Capital Market Authority, the Bahrain-based media reports, has approved the new listing regulations as well as conditions tied to companies listing.
According to the amended laws, foreign companies will be subject to the same listing, disclosure and governance requirements as Saudi listed companies, and foreign shares will be traded on the Saudi Stock Exchange in Saudi Riyals.
Companies operating in the kingdom, related to the Saudi market or operating in the region, can be listed on Tadawul.
With the listing of foreign companies, Securities Depository Center Company (Edaa), a company fully owned by Tadawul, has signed two agreements with Abu Dhabi Securities Exchange and Bahrain Clear to enable foreign companies to list on Tadawul and to unify administrative and operational procedures between the two countries, Trade Arabia reports.