Aramco’s inclusion MSCI, FTSE indices likely to attract SAR 14 bln inflows: Al Rajhi Cap

21/11/2019 Argaam

 

Saudi Aramco’s listing on MSCI and FTSE emerging markets indices is expected to attract active and inactive cash flows of SAR 14.3 billion, Al Rajhi Capital said in a recent report.

 

Aramco’s inclusion in FTSE Russel index and MSCI index is likely to generate inflows of SAR 9 billion and SAR 5.3 billion (15% of the offer size), respectively.

 

The major oil producer’s stock is forecast to have a weight of 9.1% to 9.7% on Tadawul All Share Index (TASI).

 

Meanwhile, blue chip Al Rajhi Bank will remain the largest-weighted stock on the benchmark index with 14.6%, Al Rajhi Capital added.

 

The world’s largest oil exporter kick-started on Nov. 17 its initial public offering (IPO) to retail and institutional investors.

 

The retail offering will close on Nov. 28, while the deadline to submit bid forms for institutional investors is set for December 4.

 

The company floated a 1.5% stake, or 3 billion shares on the local stock exchange.

 

For more details about Saudi Aramco IPO

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.