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.
Following years of effort by Saudi officials to increase transparency in its stock market, the Kingdom won inclusion into MSCI, Inc.'s highly sought-after emerging market index, expanding the asset class by as much as $600 billion for the Kingdom.
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.
Sharif Atta of SQM Investment Management speaks with SUSTG's Richard Wilson on the opening of the Tadawul, or Saudi Stock Market, to wider foreign investment this Spring. The conversation is part of SUSTG and SUSRIS' ongoing #FocusKSA discussions on Saudi Arabia.
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.