Around 100 Saudi entities likely to seek listing, says HSBC

Around 100 entities in sectors including mining, healthcare and energy are expected to be listed on Saudi Arabia's stock market exchange Tadawul, Reuters reported citing Georges Elhedery, HSBC's chief executive officer for the Middle East and North Africa.

The listing comes as part of Saudi Arabia’s privatization plan, which aims to diversify the Saudi economy beyond oil by 2030, he said without giving a time frame for the listings.

There are nearly 180 companies currently listed, he said during an event. He added that the region's debt capital market issuance this year was likely to exceed last year's record level.

HSBC is advising the Tadawul on the planned listing of its own shares.

The bank will likely have a key advisory role in the upcoming listing of national oil giant Saudi Aramco, Reuters said citing sources familiar with the matter.