Shura Council urges CMA, Tadawul to revisit listing requirements

Tadawul trading screen 

The Shura Council’s financial committee urged the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) to reconsider the listing and offering requirements, to be more attractive for small and micro-sized enterprises, the state-owned SPA reported.

This came during a session to discuss the financial committee’s report about the CMA’s annual report.

The committee underlined the importance of boosting local and foreign institutional investments by the CMA, noting that stimulating foreign investment will contribute to increasing the share of institutional investors. The committee also affirmed the importance of the efforts aimed to create an attractive climate on the organizational, or the governance and transparency levels in terms of the diversification of investment products.

Meanwhile, Fahad Altekhaifi, member of the Shura Council, highlighted the need for coordination with the the National Center for Privatization & PPP (NCP) to count the companies owned by government entities and study their floatation and listing.

Elsewhere, Hazza Al Qahtani, member of the Shura Council, praised the CMA report, noting that there is a clear problem with listing requirements, which limited the number of new listings last year.