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Wednesday, 7 September 2016

Saudi Arabia to set lower listing requirements for second bourse | GulfNews.com

Saudi Arabia to set lower listing requirements for second bourse | GulfNews.com:

"Saudi Arabia will set relatively low listing requirements for its second stock market in order to draw smaller companies to the bourse, which it aims to launch at the end of February next year, regulators have told securities firms.
Much of the Saudi economy is dominated by family-owned conglomerates, such as the Olayan group, the Juffali group and the Al Muhaidib group, which have operated in the kingdom for decades but have generally chosen not to list their subsidiaries.
Seeking to diversify the economy away from oil exports, the government wants to persuade such firms to list in order to improve their access to capital, reduce the burden on the banks financing them, and encourage better corporate governance."



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