Foreign Ownership Rights Resurface in Saudi Arabia
Morgan Stanley expects the Saudi stock market to resume attracting foreign inflows of up to $7.4 billion, following revised expectations regarding increasing foreign investor ownership from 49% to 75%. This comes after Mazen Al-Sudairy was appointed as the head of the Capital Market Authority, a move expected to boost the market's attractiveness and contribute to increased liquidity. There are also possibilities of completely lifting the foreign ownership cap, which could lead to even larger inflows. Al-Rajhi Bank is anticipated to be the main beneficiary of this change, potentially attracting between $2.1 billion and $4.6 billion in inflows.
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