RIYADH: The Muscat Stock Exchange has announced raising the limits of foreign ownership in joint stock companies to 100 percent, as part of its completion of the technical requirements to access emerging markets.
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices, Oman’s bourse CEO told CNBC Arabia.
The move has increased the percentage of investments available to foreigners by 78 percent, Haitham bin Salem Al Salmi added, noting that foreign trading represents 14.5 percent of the total trading in the Muscat Stock Exchange.
In addition, Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year, CNBC Arabia reported citing the bourse’s CEO.
