Saudi Regulator Says Foreign Ownership Limits Under Review (1)

Saudi Arabia’s Capital Market Authority said a review of rules that limit foreign ownership in local stocks is underway as the kingdom looks to open further to overseas investors.

“FOL is under review,” said board member Abdulaziz Abdulmohsen Bin Hassan, referring to so-called foreign ownership limits that currently prevent overseas investors from holding majority stakes in local companies.

“We are committed to make it happen and we hope it’s going to be happening this year.”

The comments, made at the Capital Markets Forum Select in New York on Monday, indicate the regulator is proceeding with plans to lift the ...