Tadawul Group, HKEX seal MoU to explore dual listing opportunities

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Saudi Tadawul Group Holding Co. (Tadawul Group) sealed a memorandum of understanding (MoU) with Hong Kong Stock Exchange (HKEX) to explore ways of cooperation of mutual benefit to both countries’ financial markets, including dual listings.

In a statement today, Feb. 6, HKEX said the agreement is also aimed at discussing joining forces in the areas of financial technology (fintech), corporate as well as environmental and social governance (ESG) practices, alongside other areas of interest to both parties.

Khalid Alhussan, CEO of Tadawul Group, noted, “As we seek to position the Saudi capital market as an investment hub between East and West, we are seeing increased interest from issuers and investors in Asia. This MoU brings us one step closer towards enabling cross listings and other areas of collaboration between Saudi Arabia and Hong Kong.”

“With global capital markets evolving, it is moreover important for us to work together to exchange information and align on best practice to elevate our capital markets and enhance the experience for issuers and investors alike,” the executive added.