Saudi Arabia’s Stock Exchange Seeks Foreign Investors

Saudi Arabia’s stock exchange wants to lure more foreign investors and raise foreign ownership by 25 percent.

According to an interview in Bloomberg, Saudi’s stock market Chief Executive Al Hussan said it has some 120 registered Qualified Foreign Investors (QFI), and the exchange is currently reviewing 180 more applications for QFI.

“It will be great if one day our 49 percent foreign-investor limit is challenged, but ideally we will be satisfied if in the next two years or more we have about 20 to 25 percent foreign ownership in our markets. We are telling global investors that our markets are open and are consistently encouraging them to invest with us,” he said.

Tadawul is also preparing to host the IPO of Saudi Arabia’s oil giant Aramco in late 2018. Officials say that Aramco could be worth up to US$2 trillion, and listing 5 percent of it could fetch US$100 billion if the valuation is legitimate. 

“The Saudi stock exchange has a long track record of attracting successful IPOs,” Hussan said. “The question of timing and other matters with the Aramco listing lies with the issuer, but from our side we are prepared for it.”

Follow us on social media for the latest updates in B2B!

Image

Latest

next chapter
Keith Elias: Pro Sports Retirement Doesn’t Have to Be a Fumble. NFL’s Support Systems Ease Transition to Next Chapter
March 28, 2024

The spotlight is shifting, we’re not just cheering on professional athletes during their prime, but also wondering what happens when the final whistle blows as they move from the peaks of their careers into the next chapter of their lives. The conversation turns to the challenges they face outside the sporting arena and the […]

Read More
Shaping the Future of Warehouses: Key Takeaways from MODEX 2024
Shaping the Future of Warehouses: Key Takeaways from MODEX 2024
March 28, 2024

As the logistics and material handling sectors pivot towards recovery and innovation, MODEX 2024 emerges as the crucible of transformation. With an attendance spike reminiscent of pre-pandemic vigor—up by 30%—the event has become the epicenter of technological showcases, signaling a new chapter for industry efficiencies. The stakes? A competitive edge in an industry where, […]

Read More
IWCE 2024
Icom Hits Orlando for the International Wireless Communications Expo (IWCE 2024)
March 28, 2024

Icom America’s Jon Paul Beauchamp was in Orlando, Florida for IWCE 24, the International Wireless Communications Expo. Beauchamp sent greetings from Icom’s Booth, #805. Catch all of the highlights at Icom America.

Read More
security communication solutions
Game-Changing Security Communication Solutions On Display at IWCE
March 28, 2024

One of the spotlights at this year’s IWCE event in Orlando, Florida were the security communication solutions which make a significant different in sensitive environments like public schools. How can dealers successfully navigate partnerships with agencies to enhance their security measures? Jon Paul Beauchamp of Icom America caught up with Paul Toth, the Owner […]

Read More