Middle East
Saudi Arabia to allow foreigners to own 49% in listed securities
Kingdom opens up stock market, plans what could be the world's biggest initial public offering
Saudi Arabia will allow foreign investors to own up to 49% of listed securities as the kingdom opens up its stock market and plans what could be the world's biggest initial public offering.
The regulator raised the limit for a single qualified foreign investor (QFI) in a company to 10% and set the ceiling for foreign holdings in all categories, whether resident or non-residents, at 49%, the Capital Market Authority (CMA) said on Tuesday.
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