RIYADH: Saudi and Omani companies can now tap a larger pool of potential investors thanks to Muscat Stock Exchange linking with its counterpart in the Kingdom. 

Haitham Salim Al-Salmi, CEO of MSX, said the bourse is now ready to receive dual listing requests from Saudi Stock Exchange, known as Tadawul, Oman News Agency reported. 

Al-Salmi further noted these new developments will help the stock exchange provide an efficient investment environment that aligns with the global best practices and aspirations of Oman Vision 2040 鈥� the plan to diversify the country鈥檚 economy by catalyzing growth in a range of sectors and increase foreign investment. 

Dual listing is expected to increase a company鈥檚 liquidity as shares could trade in both markets. Moreover, it allows a business to diversify its capital requirements, as it need not rely on a domestic market.

The latest agreement comes after Tadawul and MSX reached a deal to create an organized market for stock trading in December 2022.

Riyadh鈥檚 Securities Depository Center Co., also known as Edaa, signed a pact with the Muscat Clearing and Depository Co. to allow dual-listed firms to easily transfer shares between 萝莉视频 and Oman. 

In February 2022, MSX forged a strategic partnership with the Tabadul platform, the region鈥檚 first digital exchange hub, which was created on the mutual market access model to provide a trading network among stock exchanges.  

鈥淢uscat Stock Exchange鈥檚 accession to the Tabadul platform is a major step in our ambitious strategy to contribute to the market liquidity and provide varied options for investors,鈥� said Al-Salmi in February 2022.

He added: 鈥淭he accession to the Tabadul platform will also be reflected in the enhanced level of cooperation between the Muscat Stock Exchange, the Abu Dhabi Securities Exchange and the Bahrain Bourse, which will strengthen partnerships and drive sustainable growth.鈥� 

In October 2022, 萝莉视频鈥檚 Capital Market Authority approved Americana Restaurants International Co.鈥檚 application for the concurrent and dual listing of 2.527 billion shares, or 30 percent of capital, on Tadawul and the UAE stock exchanges. The company began trading on Tadawul on Dec. 12.