Saudi Bourse Courts Foreigners as It Readies for Oil Giant's IPO - Bloomberg

Saudi Bourse Courts Foreigners as It Readies for Oil Giant's IPO - Bloomberg:

"Saudi Arabia’s stock market is on a charm offensive as it prepares for what could be the world’s largest initial public offering. The exchange, known as Tadawul, aims to boost foreign ownership of equities to as much as 25 percent in at least the next two years from about 4 percent, Chief Executive Officer Khalid Al Hussan said in an interview in London, where he attended a Saudi Arabia investment conference organized by Goldman Sachs Group Inc. The bourse currently has about 120 registered Qualified Foreign Investors -- who are allowed to trade Saudi stocks directly -- and is reviewing applications of 180 more, he said. Foreigners have been net buyers of more than a 1 million riyals ($266,600) worth of shares for just one week since October 2015, when Bloomberg began tracking the data."



'via Blog this'