Saudi Arabia Drafts Foreign Limits for $580 Billion Bourse
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Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world’s most restricted stock markets prepares to open its doors for the first time to investors outside the region.
The Capital Market Authority may cap foreign ownership of a single stock to 49 percent, it said in plans posted on the Riyadh-based regulator’s website today. It may also set a 5 percent limit for qualified foreign investors, or QFIs, in a single stock, and a 20 percent ceiling for QFIs and approved QFI clients combined, it said.