Saudi Stock Stampede Seen as Unlikely After Foreigner Rules - Bloomberg Business:
"For all the optimism over the opening of Saudi Arabia’s stock market to foreigners, it will probably be several months before inflows will have an impact, according to the investment manager Ashmore Group Plc.
The Capital Market Authority said Monday that international ownership of a single company is restricted to 49 percent while only institutional investors with a minimum of 18.75 billion riyals ($5 billion) under management will have direct access to the stock market. Money managers who have been waiting since August for the final rules have six weeks to prepare for the market opening next month.
“There will be initial excitement, but substantial flows will take at least a quarter,” Riyadh-based John Sfakianakis, the director of the Middle East at Ashmore, said by e-mail. “They need to see and understand the stocks and how the system works.”"
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