Saudi and Oman exchanges sign cross-listings deal

Companies will be able to list in Saudi Arabia and Oman after the respective exchanges and clearing houses signed a cross-listing deal.

The arrangement involves the Saudi Stock Exchange and its Edaa clearing house, Muscat Stock Exchange and Muscat Clearing Company.

In addition to cross-listing, the agreement will also see the exchanges engage in information sharing and an attempt to bring more collaboration to corporate actions.

The Saudi Stock Exchange, also known as Tadawuk, has engaged in several initiatives in recent months designed to appeal to international investors and companies.

This includes the launch of a market-making framework for equities and derivatives earlier in December.

Eng Khalid Abdullah Al Hussan, chairman of the board, Saudi Exchange, and Edaa said: “Today’s announcement is another step towards connecting GCC capital markets and facilitating diverse investment opportunities,” said Eng Khalid Abdullah Al Hussan, chairman of the Tadawul board.

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