Amending the ownership of foreigners puts the Saudi stock market on the threshold of a major leap
Register The Saudi stock market its largest daily rise since 2020 yesterday, Wednesday, in the wake of news that the Capital Market Authority may adjust the rules that limit the percentage of foreigners in the listed companies." target ="_Blank"> Tassi ) to jump by more than 5% to its highest level since last May, after it was mentioned "Bloomberg"The regulatory authorities may soon raise the maximum of 49% of the foreign ownership of the listed companies, in a move forward forward for the largest stock exchange in the Arab world. "Bloomberg" That "The decision may enter into force before the end of the year". "GB Morgan Chase and Co." A possible capital flow worth $ 10.6 billion if the Capital Market Authority raises the limit of foreign property to shares to 100% of its current level of 49%, and Hermes also expects about $ 10 billion. "Us S" In the region of Europe, the Middle East and Africa, this step may bring additional flows between 9.5 billion dollars and 10 billion dollars to Saudi Arabia from my indicators "MSCI" and"Fotsi" If it is performed 100%. "Ja dry Benevits": "We know that even with the current maximum foreign ownership of 49%, the average ownership of foreigners does not exceed more than 15% in most companies of large market value". "FH Capital" In Abu Dhabi: "This step will also enhance liquidity and depth in the Saudi market, narrow the differences of supply and demand and expand institutional participation"." target ="_Blank"> Real estate and consumer "GB Morgan Chase" To be " Al -Rajhi Bank " The biggest beneficiary of any new flows, as it will attract between 5 billion and 6 billion dollars. "GB Morgan"That "The Saudi National Bank" and"Development Bank" They will be one of the other main winners. "Pasture" and"Savola Group" Also initial gains, as the general positive reaction to ownership reforms extended to all parts of the market, according to the website "Screen Market"
