Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it has signed a Memorandum of Understanding (MOU) with the Saudi Tadawul Group Holding Company (Saudi Tadawul Group), the stock exchange operator in the Kingdom of Saudi Arabia, to explore cooperation in a number of areas that will bring mutual benefit to both organisations’ financial markets.

Under the MOU, HKEX and Saudi Tadawul Group will explore cooperation opportunities in Fintech, ESG and cross listings, as well as a number of other areas of interest to both exchanges.

HKEX is pleased to announce it has signed an #MOU with the Saudi Tadawul Group, the stock exchange operator in Saudi Arabia, to explore cooperation in several areas that will bring mutual benefit to the #HongKong and Saudi financial markets. More: https://t.co/AhgWeKARiX pic.twitter.com/yg3l3fWyKX

— HKEX 香港交易所 (@HKEXGroup) February 6, 2023

HKEX Chief Executive Officer Nicolas Aguzin said: “We are delighted to be signing an MOU with Saudi Tadawul Group, reflecting HKEX’s ongoing commitment to driving global connectivity and shaping a successful shared sustainable future. The Kingdom of Saudi Arabia, and the broader Middle Eastern region, are one of the world’s most dynamic and exciting economic and innovation hubs and also home to some of the fastest growing investor groups in the world. Hong Kong and HKEX’s markets offer significant opportunities for international investors and corporates, including unrivalled connectivity to the Mainland Chinese markets through our unique Connect programmes. This agreement signals the beginning of even greater collaboration between our companies and our home markets, and we look forward to exploring many future areas of cooperation.” 

Khalid Al Hussan, CEO of Saudi Tadawul Group, said: “As we seek to position the Saudi capital market as an investment hub between East and West, we are seeing increased interest from issuers and investors in Asia. This MOU brings us one step closer towards enabling cross listings and other areas of collaboration between Saudi Arabia and Hong Kong. With global capital markets evolving, it is moreover important for us to work together to exchange information and align on best practice to elevate our capital markets and enhance the experience for issuers and investors alike.”

HKEX is pleased to be one of the partner organisations of the Task Force on Promoting and Branding Hong Kong, dedicated to sharing information and opportunities about Hong Kong. HKEX was pleased to join a senior Hong Kong delegation in its visit to the Kingdom of Saudi Arabia and the United Arab Emirates, led by Hong Kong Chief Executive John Lee.

Source: HKEX