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Monday, 12 June 2017

Saudi bourse may get limited boost from MSCI, Aramco | GulfNews.com

Saudi bourse may get limited boost from MSCI, Aramco | GulfNews.com:

"Saudi Arabia’s financial sector is hoping for tens of billions of dollars of foreign portfolio funds to start flowing into the country this month, but the money may do little to boost a stock market depressed by low oil prices and rising taxes. On June 20, global equity index compiler MSCI will announce whether it is putting Saudi Arabia on a list for possible upgrade to emerging market status. Index firm FTSE will decide in September whether to make Riyadh a secondary emerging market. Then in late 2018, authorities aim to list national oil giant Saudi Aramco in Riyadh, selling about 5 per cent in what is likely to be the world’s biggest initial public offer of shares. "



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