Saudi Arabia beat out regional rival Qatar's first bond issuance since the Gulf crisis began with its own "surprise" $11 billion raise, which drew $52 billion of orders this week, according to reports.
According to the Saudi Gazette, the CMA has laid out the specific time-frame and requirements for all companies listed on the Tadawul to disclose their adoption of International Financial Reporting Standards. The deadline is January 1, 2017.
Citigroup will be "fully operational" in Saudi Arabia in the first quarter of 2018 after an absence of more than a decade, according to reports, as it seeks to capitalize on opportunities in debt and equity capital markets.
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today.