Foreign investors’ share of trades on Saudi Arabia’s stock market, the Arab world’s biggest, may increase fivefold in two years after the bourse allows direct purchases, a banker at Royal Bank of Scotland Group Plc said.
Overseas investors buy $400 million to $600 million of shares a month using swap agreements and that’s “2.5 percent to 3 percent of the total Saudi market,” Galen Moore, the bank’s head of equity delta 1 and financing, a unit that provides equity certificates representing shares, said in an interview in Dubai yesterday. “I wouldn’t be surprised if in 18 months or two years that figure is more like 10 to 15 percent of foreign investors in the market.”
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