Tadawul aims to be a world class stock exchange: Chairperson

The Saudi Stock Exchange (Tadawul) doesn’t just want to remain a regional stock exchange but it aims to be a world class stock exchange, Sarah Al Suhaimi, the exchange’s Chairperson said at the third-annual Future Investment Initiative (FII) on Tuesday.

“What Saudi Arabia has delivered in the last two-three years in opening up its market just confirms we don’t want to be just a regional stock exchange, but we want to be a world class stock exchange,” she said while speaking during a panel discussion “Trading places: What new financial centers are rising up around the world?.”

Al-Suhaimi said that the number of qualified foreign investors (QFIs) on the Saudi Stock Exchange (Tadawul) has increased from 200 last year to more than 1500 this year.

“All our future plans especially related to launching the derivatives market (that we are launching soon) and allowing cross listings are just a continuation of our journey that started a few years back,” Al-Suhaimi added.

On the question of whether the Tadawul is ready for Aramco IPO, she said, “We are ready more and larger listings….We are ready.

Write to Sunil Kumar Singh at sunil.kumar@argaamplus.com