Saudi Arabia’s stock exchange (Tadawul) is seeking to secure its first regional cross listing by 2018 to boost foreign investment, and will hold discussions with companies already listed on other exchanges in the GCC to encourage them to also list shares in the Kingdom, CEO Khalid Al Hussan said on Sunday. “Definitely by 2018 we would expect to see at least one company cross listing onto the main market from another exchange," he said. The Tadawul also wants private companies in the GCC to sell shares on its alternative market, Nomu, with the first expected this year, he said. Tadawul started allowing limited foreign direct investment in 2015 and continued to ease restrictions last year. Foreigners currently own c4% of shares. Tadawul is also on track for its own IPO next year, Al Hussan said. The exchange hired HSBC Holdings Plc’s Saudi unit as a financial adviser for the sale in May. (Bloomberg)