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Wed 31 Oct 2007 10:17 AM

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Saudi bourse in market shake-up

Proposals include increasing industry indices to 14, changing how firms' market value is calculated.

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.