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.
