Mubasher: The International Finance Corporation (IFC) announced that upgrading the Saudi Stock Exchange (Tadawul) in FTSE’s emerging markets list in 2019 will raise the market’s weight to 2.7% in the main indices for emerging stocks.
The IFC added that in case of listing 5% of the kingdom-owned oil companies, the Saudi Arabian Oil Co (Aramco) will boost the share’s weight to 4.5%.
The IFC also added that it is expected for the Saudi shares to incline in 2018 once FTSE announces the promotion of Tadawul to an emerging market in June 2018.
Source:
Mubasher