Khalid Al-Hussan, Saudi Tadawul Group CEO
Two Gulf companies appointed financial advisors with the intention of dual listing in the Saudi market, Al-Eqtisadiah Newspaper reported, citing CEO of Saudi Tadawul Group Khalid Al-Hussan.
He said that two agreements were signed with the Abu Dhabi Securities Exchange (ADX) and the Bahrain Bourse.
Work with one of these companies is intensively initiated through Tadawul, Capital Market Authority (CMA) and its financial advisor, Al-Hussan indicated, adding that the other company is in the final stages of completing its structure and taking internal approvals.
He expects one of the companies to be listed on the Saudi market this year.
There are a large number of applications for Saudi and local companies, and it is expected that listings in the Saudi market within the next 12 months will constitute a historical level.
On Wednesday, The Saudi Stock Exchange (Tadawul) announced its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned initial public offering (IPO) this year.
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