Riyadh – Mubasher: Saudi Arabia is expected to postpone the initial public offering (IPO) of its stock exchange (Tadawul) until the beginning of 2019 on MSCI’s potential classification as an emerging market in June, informed sources said on Tuesday.
If MSCI upgrades the Saudi bourse, it will enhance its position, Bloomberg reported, citing the sources as saying.
The MSCI’s upgrade also will improve traded volumes on Tadawul and help the stock exchange to achieve a better evaluation for its owner, the Public Investment Fund (PIF), the sources added.
“Tadawul recognizes the importance of confidence-building and fair valuation in reflecting its capacity, infrastructure and liquidity,” a spokesman at the Saudi bourse stated in an emailed statement.