Saudi and Shanghai exchanges sign MoU

The Saudi-based exchange operator Tadawul Group has furthered its strategy of international cooperation by forging an agreement with the Shanghai Stock Exchange.

The two firms have signed a memorandum of understanding (MoU) to promote “mutual development and cooperation”.

This latest alliance follows similar agreements with Hong Kong Exchanges and Clearing in February and the Muscat Stock Exchange in December 2022.

Both arrangements involved the development of a cross-listing between the respective exchanges.

In addition to allowing the dual listings of ETFs, the MoU with the Shanghai Stock Exchange will also facilitate knowledge sharing in listing family businesses and investor relations initiatives as well as plans to develop the capital markets infrastructure of the two financial centres.

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