October 26, 2017 / 5:32 AM / a year ago

Saudi CMA to give foreign investors complete access to NOMU from Jan 1 - chairman

RIYADH, Oct 26 (Reuters) - The Saudi Capital Market Authority (CMA) plans to give foreign investors complete access to Saudi Arabia's NOMU, the secondary market, starting from January 1, CMA's chairman said on Thursday.

Saudi Arabia has now over 100 qualified foreign institutional investors, of which over 20 percent registered in the past month, Mohammed El Kuwaiz said.

Foreign investors in NOMU will no longer have to meet requirements to qualify as foreign institutional investors, but will have to continue to obey limits on foreign ownership of stocks, said the chairman.

The Saudi Capital Market Authority plans new rules to make the listing of stocks and debt instruments easier, he added. (Reporting by Andrew Torchia and Hadeel Al Sayegh, Writing by Davide Barbuscia; Editing by Muralikumar Anantharaman)

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