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Smaller foreign funds to be allowed into Saudi stock market
(MENAFN) The requirements for foreign institutional investors will be facilitated by Saudi Arabia in its stock market, as Riyadh seeks to draw more capital into the market before the listing of state oil giant Saudi Aramco, the securities regulator said on Thursday.
The Capital Market Authority opened the bourse to direct investment by qualified foreign institutions in 2015.
It reduced minimum requirements for the institutions last year and is now proposing a fresh round of reforms, giving the public 14 days to comment on the proposals.
The minimum value of assets under management needed for an institution to qualify as an investor would fall to 1.875 billion riyals (USD500 million) from 3.75 billion riyals among the reforms.
The Capital Market Authority opened the bourse to direct investment by qualified foreign institutions in 2015.
It reduced minimum requirements for the institutions last year and is now proposing a fresh round of reforms, giving the public 14 days to comment on the proposals.
The minimum value of assets under management needed for an institution to qualify as an investor would fall to 1.875 billion riyals (USD500 million) from 3.75 billion riyals among the reforms.
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