Morgan Stanley gets in early over Saudi stock exchange reforms | The National

Morgan Stanley gets in early over Saudi stock exchange reforms | The National:



"Morgan Stanley has become the first international investment bank to initiate coverage on Saudi Arabian equities ahead of an expected opening of the kingdom’s stock exchange to foreign investors.



A report published by the Wall Street firm yesterday follows the publication of draft rules by the country’s Capital Markets Authority on foreign investment in Saudi stocks. That mapped out the criteria for eligible investors using a “qualified foreign investor” model.



Research analysts at Morgan Stanley rated Samba Financial Group and Al Rajhi Bank with “equal weight” while Riyad Bank was “underweight”."



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