Riyadh – Mubasher: Saudi market's potential weight may reach 2.3% when it will be listed on Morgan Stanley Capital International’s (MSCI) index, according to consultation document posted on MSCI’s website.
Around 32 Saudi companies are nominated to be listed on the Emerging Market (EM) Index with a combined market value of $124.1 billion, Bloomberg reported, citing MSCI's document.
Saudi Arabian Oil Co, known internationally as Saudi Aramco, will be added to the index over the coming period which will raise the current market value, MSCI added.
The nominated firms included Al Inma Bank, Al Rajhi Bank, Banque Saudi Fransi (BSF), Arab National Bank, Riyad Bank, the Saudi Basic Industries Corporation (SABIC), Advanced Petrochemical Company, and The Saudi British Bank (SABB).
Other companies comprised National Industrialization Company (Tasnee), Saudi Cement, and The Saudi Electricity Company (SEC).
