BREAKING NEWS

BREAKING NEWS

Saudi expects $40 billion foreign fund inflows after MSCI - CMA

Now Reading:

Saudi expects $40 billion foreign fund inflows after MSCI - CMA

Text size Aa Aa

RIYADH (Reuters) - Saudi Arabia could attract 150 billion riyals (30.38 billion pounds) 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, Mohammed 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.

(Reporting by Marwa Rashad; Writing by Saeed Azhar, editing by Davide Barbuscia)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.