Saudi Arabia has introduced measures to facilitate the entry of foreign issuers to the Saudi stock market, Reuters reports, in the latest reforms to attract overseas share buyers and issuers as part of its Vision 2030 economic and social reform plans.
Saudi Arabia’s Capital Markets Authority (CMA) said on Sunday it had “adopted rules that will facilitate foreign issuers’ listings of their shares on the main Saudi market,” Reuters reports.
The changes are also aimed at encouraging foreign investment in Nomu, the Tadawul’s parallel equity market with more relaxed listing rules for smaller companies.
CMA chairman Mohammed bin Abdullah Elkuwaiz said the new rules will “create greater opportunities for diversification of investment for investors,” Arabian Business reports.
The Saudi Stock Exchange (Tadawul) recently completed the second and final phase of joining the MSCI Emerging Markets Index in August.