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Report: Goldman Sachs seeks equities trading license in Saudi Arabia

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Report: Goldman Sachs seeks equities trading license in Saudi Arabia

Goldman Sachs Group Inc. has filed an application with Saudi Arabia's Capital Market Authority for an equities trading license as it seeks to further expand in the country, "two sources familiar with the move" told Reuters.

Goldman Sachs has operated in Saudi Arabia as an agent and underwriter since 2009 and has been authorized to arrange, advise and manage investment funds and portfolios since 2014, the June 2 report noted, citing details from the bank's website.

In April, Citigroup Inc. obtained a license to offer investment banking, debt and equity capital markets, markets, and securities research capabilities in Saudi Arabia, marking its return to the country after a 13-year absence, while Credit Suisse Group AG was previously reported to be in advanced talks to secure a banking license.