Saudi CMA to give foreign investors complete access to NOMU

A Saudi investor monitors the stock exchange at the Saudi Stock Exchange, or Tadawul, on December 14, 2016 in the capital Riyadh. (AFP)

The Saudi Capital Market Authority (CMA) plans to give foreign investors complete access to Saudi Arabia’s NOMU, the secondary market, starting from 2018, CMA’s chairman said on Thursday.

Saudi Arabia has now over 100 qualified foreign institutional investors, of which over 20 percent registered in the past month, Mohammed El Kuwaiz said.

Foreign investors in NOMU will no longer have to meet requirements to qualify as foreign institutional investors, but will have to continue to obey limits on foreign ownership of stocks, said the chairman.

The Saudi Capital Market Authority plans new rules to make the listing of stocks and debt instruments easier, he added.

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Last Update: Wednesday, 20 May 2020 KSA 09:51 - GMT 06:51
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