First Saudi ETF to debut on HKEX on Nov. 29: Official

27/11/2023 Argaam
Logo ofHong Kong Stock Exchange (HKEX)

Logo of Hong Kong Stock Exchange (HKEX)

The first Saudi exchange-traded funds (ETF) will be listed on the Hong Kong Stock Exchange (HKEX) on Nov. 29, said Paul Chan, Financial Secretary of Hong Kong Government. 

 

He added that this will be first-of-its-kind listing in Asia, noting that investors will be able to trade the constituent stocks of the Saudi stock market directly in the Hong Kong market through the ETF in Hong Kong dollar or renminbi.

 

In the past two months, HKEX added the Saudi Exchange (Tadawul) and Indonesian Stock Exchange as recognized stock exchanges, allowing companies listed on these markets to be listed in Hong Kong for the second time, Chan said.

 

Nicolas Aguzin, CEO of HKEX, said the agreement with Tadawul may contribute to the cross listing of financial products on Hong Kong and Saudi markets, including ETFs, Argaam earlier reported.

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