‎“Saudi Tadawul”, “Hong Kong Stock Exchange” sign MOU to ‎explore dual listings and cooperation in Fintech field

The Saudi Tadawul Group and the Hong Kong Stock Exchange signed an agreement for cooperation in several areas, especially the joint listing, after the visit of the CEO of Hong Kong, John Lee, to the Gulf, including Saudi Arabia and the Emirates, as he announced in a statement before the start of his trip that he would work to persuade the oil company Giant Aramco listed in the Asian financial center.

According to “Al-Arabiya”, the Asian Stock Exchange said in a statement that the Hong Kong Exchange and Clearing Company Limited and the Saudi Tadawul Holding Group will also discuss cooperation in the field of financial technology, the governance of international government companies, and other areas.

The statement quoted the CEO of the Hong Kong Stock Exchange, Nicholas Agozen, as saying: “This agreement marks the beginning of greater cooperation between our companies and our local markets, and we look forward to exploring many areas of future cooperation.”

In turn, the CEO of Tadawul Holding Group, Khaled Al-Hussan, confirmed that “at a time when we seek to strengthen the position of the Saudi capital market as an investment hub between East and West, we are witnessing increasing interest from securities issuers and investors in Asia.” Considering that the memorandum of understanding constitutes an additional step towards enabling dual listings and other areas of cooperation between Riyadh and Hong Kong.