Saudi Bourse Courts Foreigners as It Readies for Oil Giant's IPO
- Exchange seeks as much as 25% foreign ownership in two years
- Tadawul has about 180 QFI applications pending for approval
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Saudi Arabia’s stock market is on a charm offensive as it prepares for what could be the world’s largest initial public offering.
The exchange, known as Tadawul, aims to boost foreign ownership of equities to as much as 25 percent in at least the next two years from about 4 percent, Chief Executive Officer Khalid Al Hussan said in an interview in London, where he attended a Saudi Arabia investment conference organized by Goldman Sachs Group Inc.