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Non Resident Foreigners Can Start Investing Directly In Saudi Arabia Starting This Monday
They are, however, subject to several rules and regulations.
According to Al Bilad Daily, non-resident foreign investors will get access to Saudi Arabia’s secondary market NOMU.
NOMU is basically a parallel equity market that has lesser listing requirements. It serves as an alternative platform for companies to go public.
It was decided by Saudi Arabia’s Capital Market Authority in October that foreigners will be given access to the market in 2018. Staying true their promise staring this Monday the market will be open for non-resident foreigners to invest in.
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Well as foreign investors of all categories including residents will not be allowed to own more than 49 percent of any listed company. As of now most listed companies on NOMU have foreign investors’ ownership at less than 1 percent.
Time for a celebration.
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