Oman to allow full foreign ownership in listed companies

Oman’s stock exchange plans to allow full foreign ownership in listed companies in an effort to attract more inflows to its market, following a similar move by the bourse in Qatar.

Muscat Clearing and Depository finalised measures to open up the market, according to a tweet from the Muscat Stock Exchange. The move will make the bourse “more attractive to international investors” and provide them with a more flexible environment for their investments, it said.

Gulf stock markets, primarily in Saudi Arabia and the United Arab Emirates, have seen a rush of initial public offering from family-owned businesses and state-run companies.

Oman’s bourse plans to list 35 state-run companies in the next five years, chief executive officer Haitham Al-Salmi told CNBC Arabia earlier this month.