Not Even Aramco’s Giant IPO Can Get Saudis Trading More Stocks - Bloomberg:
If anything could push up trading volumes on a stock market, you’d think it would be the world’s biggest initial public offering and an upgrade from two of the main providers of global equity indexes.
Not so with Saudi Arabia.
Turnover on the Tadawul exchange in Riyadh has averaged 3.6 billion riyals ($960 million) a day over the past year, which is 16% below the gauge’s five-year average.
That’s despite Saudi stocks being promoted to emerging-market status by MSCI Inc. and FTSE Russell in 2019 and oil giant Saudi Aramco’s $29.4 billion listing in December. While there were trading spikes around those events, they proved short-lived.
If anything could push up trading volumes on a stock market, you’d think it would be the world’s biggest initial public offering and an upgrade from two of the main providers of global equity indexes.
Not so with Saudi Arabia.
Turnover on the Tadawul exchange in Riyadh has averaged 3.6 billion riyals ($960 million) a day over the past year, which is 16% below the gauge’s five-year average.
That’s despite Saudi stocks being promoted to emerging-market status by MSCI Inc. and FTSE Russell in 2019 and oil giant Saudi Aramco’s $29.4 billion listing in December. While there were trading spikes around those events, they proved short-lived.
No comments:
Post a Comment