Bakheet Investment seeks foreign investors

15/06/2011 00:00 AST

Saudi's Bahkeet Investment Group signed a strategic agreement with London-based Trinity Group Limited to bring foreign investors into the Saudi stock market, the Saudi firm said.

"Through this agreement foreign investment will be brought to the Saudi stock market through various products and services of the Bahkeet Investment Group," Bakheet said in a statement.

The Saudi bourse, the region's largest and most liquid stock market, has been moving toward giving foreigner access to the market, but does not yet not allow direct ownership or trade in Saudi shares.

In 2010 the bourse allowed local brokerages to launch exchange traded funds (ETFs) after granting foreign share ownership via swap agreements in 2008.


Reuters

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