Exclusive: Saudi Tadawul expects market capitalisation to top $1 trillion by 2022 - The National:
"Saudi Arabia’s stock exchange expects its market capitalisation to more than double by 2022, climbing to above US$1 trillion, helped by a potential share float of Saudi Aramco, leveraging the government’s privatisation programme and bringing domestic and regional companies seeking financing to the exchange, its chief executive said. “We hope so. Yes,” Khalid Al Hussan said of the possible jump for Tadawul, as the exchange is known, from its current $440 billion market capitalisation level to beyond $1tn in the next five years. “It’s not easy. I can’t say it’s going to be easy. It comes with challenges,” he said in an exclusive interview with The National in Riyadh. Tadawul is the biggest equities exchange in the Arab world and is among the top 26 largest capitalised bourses globally. It opened doors to foreign investors in 2015 and has gone through radical transformation operationally and on the regulatory front. The changes make it a potential candidate for inclusion in the MSCI Emerging Market Index, a gauge tracked by investors with trillions of assets under management."
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