Saudi CMA chairman says new secondary market ‘likely’ to launch

Saudi Arabia could launch a new secondary market going forward, Al-Yaum newspaper reported, citing Mohammed El Kuwaiz, Chairman of the Capital Market Authority (CMA).

“All options to enhance the capital market are on the table as the market regulator aims to develop and diversify the market products so as to attract more investors,” El Kuwaiz said.

The CMA is working on various investment products, including launch of derivatives market as well as allowing listing of foreign companies, Argaam earlier reported.