Saudi Stock Market Opening ‘a Marathon, Not a Sprint’
"Saudi Arabia's stock-market chairman is assuring foreign investors that the kingdom remains interested in them - but offering no promises as to when the Gulf's largest and most liquid exchange might open wider to outsiders. Mohammed al-Sheikh, a former World Bank executive director appointed as top regulator for the $400 billion Saudi stock market in February, spoke to a crowd of mostly Saudi investors in Riyadh on Sunday night. Mr. al-Sheikh told investors that his Capital Market Authority would "very soon" complete a series of regulatory changes he has undertaken to make the kingdom's stock market less volatile and more transparent. Those measures have ranged from capping price changes of stocks on their first day of trading to requiring listed companies to promptly report any plant shutdowns or other news that might impact their bottom line."
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