Global equity markets today will wake up to a new $558bn magnet pulling cash out of developing nations from Russia to Malaysia. As
Saudi Arabia lifts a ban on ect investments by foreigners, fund allocators are preparing to shift money out of other countries and put it to work in the Arab world’s largest stock market.
Global index provider S & P Dow Jones Indices is in talks with 8 mid-sized and small asset managers in
Saudi to launch IPO indices, reflecting a boom in the primary market, Charbel El Azzi, head of Middle East, Africa & CIS, S & P Dow Jones Indices told Gulf News.
The opening of
Saudi markets will likely encourage companies that prefer primary listings while raising the level of disclosures and giving debt markets a boost as investors, financiers and owners become more comfortable.
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