Saudi Arabia’s stock exchange plans to introduce futures contract in single stocks in the first half of next year, according to its chief executive officer.
The start of derivatives market will also help accelerate plans for an offering of shares in the bourse Khalid Abdullah Al Hussan said in an interview to Bloomberg TV. Index futures started to trade in the exchange on August 30.
More from the interview:
• Pipeline for IPOs is “very healthy” despite the coronavirus pandemic, with four to five IPOs under review at the moment.
• Average volume of trade increased by about three-fold amid the pandemic, with active participation of retail investors.
• IPO of the stock exchange will be assessed in the first quarter of 2021, and could be accelerated since the launch of the derivatives market has been implemented; “It was a big transformation we wanted to do.”
• Exchange working on increasing products and listings in order to attract more foreign investors.
The UAE-Israel deal gives Saudi Arabia a new opportunityWhen Israel and the UAE announced they were to establish formal relations – the so-called Abraham Accord – reactions in the Middle East ranged from ... Middle East
Arab Coalition intercepts drone targeting Saudi Arabia's Abha airport: StatementThe Arab Coalition said on Tuesday that it had intercepted and destroyed another explosive-laden drone en route to Saudi Arabia's Abha airport, the ... Gulf
Saudi Arabia removes military commander, regional deputy prince over corruptionSenior royal and military officials have been relieved of their duties and placed under investigation for corruption, the Saudi Press Agency reported ... Gulf