Saudi Capital Market Authority Announces New Instructions for Foreign Strategic Investors’ Ownership in Listed Companies

    View Author August 2019

    Saudi Arabia has introduced new regulations allowing for broader foreign ownership of publicly traded firms. As part of the Kingdom of Saudi Arabia’s efforts to regulate and develop the capital markets and to facilitate foreign investment, the Capital Market Authority (CMA) has approved the Instructions for Foreign Strategic Investors’ Ownership in Listed Companies (the FSI Instructions), which came into effect on 26 June 2019. The FSI Instructions have removed the existing limit on the foreign ownership of a Saudi-listed company for foreign strategic investors (FSIs) that meet the FSI Instructions’ criteria, allowing them to take controlling stakes in Saudi-listed companies.