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Wednesday, 31 August 2016

QuickTake Q&A: Saudi Stock Market Steps Up Bid for Foreign Cash - Bloomberg

QuickTake Q&A: Saudi Stock Market Steps Up Bid for Foreign Cash - Bloomberg:

"For the second time in 15 months, Saudi Arabia is loosening rules on foreigners investing in its almost $400 billion Tadawul Stock Exchange. The goal is to lure funds from overseas as the kingdom overhauls its economy to cut its dependence on oil revenue. Greater access for international investors may boost the chances of Saudi stocks being included in major emerging-markets equity indexes, potentially luring billions of dollars more.
1. How open is the Saudi stock market now?
Saudi Arabia opened its stocks to direct foreign investment in June 2015 but with stringent restrictions. It has awarded only a handful of licenses and barred foreigners from buying into initial public offerings. The result: Overseas investors now own just 1 percent of outstanding shares, according to data compiled by Bloomberg. The door, however, is about to swing open."



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