The opening of Saudi Arabia's bourse to direct foreign investment may create billions of dollars of business but international banks and fund managers are cautious about expanding their operations in the kingdom.
The retailers listed in the Saudi stock exchange have reported a net profit of SR789.43 million ($210.41 million) for the first quarter of this year, an increase by SR45 million ($11.99 million) compared to the same period last year.
A regulatory drive to reduce the volatility around initial public offers of shares is bolstering the Saudi funds sector and also creating an opportunity for international investors to sidestep the kingdom's foreign ownership restrictions.
The hundreds of billions of dollars that would flow into investments in Saudi Arabia once its $530 billion capital market opens up is likely to give a major boost to the contribution from Mena, said an industry expert.
Saudi Arabia's market regulator will publish the final rules governing the opening of the kingdom's stock exchange to direct foreign investors by the end of April, a senior Saudi banker told Reuters.
His comments correspon
Alkhabeer Capital, a Saudi Arabia-based Islamic investment and advisory firm, plans to expand its discretionary management business and apply for a listing on the Saudi stock exchange later this year, its chief executive told Reuters.
Saudi Arabia's decision to open its stock market (Tadawul) to foreign direct investment (FDI)could curb initial public offerings (IPOs) in the kingdom as it could make local firms cautious about giving up stakes in their business to foreign
Saudi Stock Exchange (Tadawul) has announced the soft launch of its electronic disclosure system "Ifsah" aimed at boosting the transparency and efficiency of the market.
Ifsah was launched in co-operation with list
Tokyo-based Nikken Sekkei, leading architect and leader in sustainable design, unveiled the design of SR1 billion ($267 million) Saudi Stock Exchange Tadawul project at the ongoing Cityscape Global expo in Dubai.
The new stock exchange is
Major energy saving technologies will be incorporated into the new headquarters of the Saudi Stock Exchange, or Tadawul, which is being developed at a cost of over SR1 billion ($266.6 million).
The new bourse will be designed by top Japan