Saudi official says positive about the changes needed to be in line with international investors’ requirements (AFP)
Saudi Arabia is prepared to ease regulations limiting foreign investment in the country’s stock market ahead of the much-anticipated Saudi Aramco initial public offering next year, according to the Financial Times.
It quoted Khalid al-Hussan, chief executive of Tadawul, the Saudi bourse, as sayins he expects it to be selected for potential inclusion into the influential MSCI emerging markets stock index in June, with formal entry to follow a year later.
It added that to ensure foreign flows into Saudi stocks increase during this consultation period, the kingdom would consider further changes to its regulatory regime governing foreign investments.
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“I am positive that we have made all the changes needed to be in line with international investors’ requirements,” Mr Hussan told the FT
Tadawul and regulatory officials are in the US this week meeting foreign investors to gather feedback regarding its latest technical reforms, which included setting settlement procedures in line with international norms.
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