Muscat city
A view of the Muscat city. Oman’s bourse plans to list 35 state-run companies in the next five years. Image Credit: Supplied

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 UAE, 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, CEO Haitham Al Salmi told CNBC Arabia earlier this month.