JPMorgan, Deutsche Eye Saudi IPOs, Just Dont Mention Fees
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The stranglehold of Saudi Arabian banks on the market for initial public offerings may be about to ease.
Foreigners will be allowed to invest in the kingdom’s IPOs on a “case by case” basis starting next month, according to Mohammed Al Jadaan, head of the country’s Capital Market Authority. Saudi Arabia is easing rules on IPOs as part of plans to open its $560 billion stock market to foreign investment.