Saudi Arabia will let foreigners take stakes in local companies

Regulatory Change - Saudi Arabia is expected to lift the restriction that limits foreign investors to owning just 49% of Saudi equities [2] - The Capital Market Authority (CMA) is currently reviewing the foreign ownership rule, with a decision expected before the end of the year [2] - The extent of the lift is unknown, but any move above 50% would be significant [2] Market Impact - Allowing foreigners to own a majority stake in local companies is a major development for the Saudi market [1] - This move is the latest in a series of steps from the CMA to open up the Saudi market to foreign investors [2] - This would be the first time foreigners are allowed to own a majority of Saudi equities [2]