In an effort to stabilize bourses in the GCC states following recent market plunges in the region, Secretary General of the GCC, Abdul Rahman Al Attiyah, recently suggested that unless a new company had successfully completed two year of operation, it should not be listed on the stock exchanges.
In addition to halting initial public offerings (IPOs) without such a condition, according to Attiyah, listings should be undertaken in a gradual manner and not en masse, reported The Penninsula, quoting a London-based Arabic daily.
Doing so, he added, would ensure that investments stay well within the markets.
"I call upon the governments in the region to intervene (and stabilize the stock markets in their respective countries)," he said, voicing the desire of many investors and statesmen in recent weeks.
In addition, experts should be hired by local bourses to assist officials in their day-to-day operations to help streamline markets and boost investor confidence, Attiyah added.
