MSX to allow full foreign ownership in listed companies

@JmObserver –

In a move to attract more international investors and foreign capital inflows into the country, the Muscat Stock Exchange (MSX) plans to allow 100 per cent full foreign ownership in joint stock companies, according to a tweet from the Muscat bourse.

The Muscat Clearing and Depository has finalised the technical requirements in accessing emerging markets to open up the market, the tweet added.

This move will make the bourse more attractive to international investors and provide them with a more flexible environment for their investment, it said.

In January this year, MSX said it plans to list 35 state-owned companies in the next five years, with one or two firms from the oil sector making the cut this year.

Raising the percentage of foreign investment in public companies is one of the vital steps to include MSE in the global emerging market indices. “The move has increased the percentage of investments available to foreigners by 78 per cent,” Haitham bin Salem al Salmi, CEO of Muscat Stock Exchange and Chairman of Muscat Clearing & Depository was quoted as saying by CNBC Arabia.