10 billion dollars are expected to increase Saudi shares, with the roof of foreign ownership

The Saudi stock market is on its way to attracting $ 10.6 billion investment flow, if Saudi Arabia raises the ceiling of foreign ownership in the listed companies to 100% from 49%, according to the global investment bank “JP Morgan”. The Kingdom prepares them to take a dramatic step to support the stock market by allowing foreign investors to own a majority in local companies, in a radical transformation of regulatory policy for years, according to what Bloomberg reported on Tuesday. Abdulaziz Abdul Mohsen bin Hassan, a member of the Council of Directors of the Capital Market Authority, revealed that the government is near the approval of a major amendment that increases the roof of foreigners in the listed companies, which currently amounts to 49%. He recently added in an interview with “Bloomberg”: “I think we are almost ready,” and expect the decision to enter the implementation “before the end of the year.” You may also be interested in: The Saudi Market Opens the appetite of foreigners with cheap shares and wide reforms, “Al -Rajhi Bank”, the largest beneficiary of Pancag, analyzed by jp morgan in a report that “al -rajhi bank”, the second largest Beneficiaries of Organizational Changes by Attracking Possible Investments With Approximately $ 6 Billion, and That The Saudi National Bank, Development, “Will Following in terms of their arrival for investment, according to” Bloomberg “. For its side, the Egyptian investment bank,” EFG Hermes “said 10 billion dollars will attract if the limit of foreign ownership limit is approved, according to the division of the division and Indian of Ahmed Al -Defrawi, head the bank in a report.