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Saudi bourse in market shake-up

by Reuters on Wednesday, 31 October 2007

The Saudi bourse regulator said on Tuesday it is proposing increasing the number of industry indices to 14 as part of a plan to change the way the largest Arab stock market is structured.

It also proposes changing how a company's market value is calculated, basing it on the number of shares available for trade rather than all the shares, the Capital Market Authority (CMA) said in a statement. The bourse lists eight indices now.

The CMA will announce within two weeks when the changes will be made, CMA chief Abdulrahman Al-Tuwaijri told the Saudi Arabiya television channel on Tuesday.

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