How Saudi Prince's Stock Market Flop May Be Salvaged: QuickTake - Bloomberg:
"Saudi Arabia’s drive to lure foreigners to invest in its stock market has fallen flat, with some would-be buyers kept on the sidelines by political upheaval within the kingdom. But the campaign may be transformed in the coming months. Two major compilers of stock indexes will decide whether to upgrade Saudi Arabia’s status. And the kingdom will host what may be the biggest initial public offering in history when shares are offered in Saudi Aramco, the world’s largest oil company. 1. Why is Saudi Arabia trying to lure foreigners? Crown Prince Mohammed bin Salman is spearheading an effort to modernize Saudi society, and that includes turning the kingdom’s $450 billion-plus stock market into a gateway for foreign investment. But the crown prince’s crackdown on corruption, which included the detention of dozens of the country’s rich and famous, shocked prospective investors. Saudi Arabia’s war in Yemen, and tensions involving arch-rival Iran, are other complicating factors. "
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