Riyadh: Saudi Arabia could attract 150 billion riyals (Dh147 billion, $40 billion) worth of foreign inflows from both passive and active funds, a Saudi official said, after index provider MSCI decided to add the Saudi bourse to its emerging markets benchmark.
The MSCI move increases the attractiveness of Saudi Aramco’s planned initial public offering, Mohammad Bin Abdullah Elkuwaiz, chairman of Capital Markets Authority (CMA), told a news conference.
The listing depends on the company’s readiness and valuation for the deal, but he added the Saudi bourse operator and CMA are making sure that the necessary framework is in place for the IPO, which Saudi officials have earlier said could raise $100 billion.
