Saudi companies, including those backed by the Public Investment Fund (PIF) and listed on the Saudi Exchange (Tadawul), may pursue listings in Hong Kong, said Hong Kong Exchanges and Clearing (HKEX) Chairman Carlson Tong Ka-shing.

Tadawul and the PIF have shown interest in the suggestion that Saudi companies should list in Hong Kong, he told South China Morning Post.

“It is a win-win situation for Saudi companies to list in Hong Kong as they can raise funds to diversify their economy,” he said.

On the other hand, Hong Kong and international investors can access the Gulf economy.

Ka-shing was part of a 110-member Hong Kong delegation led by Financial Secretary Paul Chan Mo-po at the 8th Future Investment Initiative (FII) summit in Riyadh, the report said.

During the summit, two exchange-traded funds, valued at a combined $1.8 billion, were listed on Tadawul, allowing Middle Eastern investors to trade Hong Kong stocks for the first time.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)