Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Tuesday said that foreign ownership limit in local companies increased to 5%, the CMA’s chairman said, adding that the Saudi Stock Exchange (Tadawul) is anticipating to be listed on MSCI indices.
The number of foreign investors has been tripled compared to the previous period, Mohammed Elkuwaiz noted.
The CMA forecast around $50 billion inflows this year, Elkuwaiz added during an interview with Al Arabiya.
The Saudi official highlighted that overseas investors will be able to own more than 50% of firms over the coming period.
