Saudi Arabia will hear news regarding its inclusion into MSCI, Inc.’s highly sought-after emerging market index. The announcement is expected at 4:30pm today on the U.S. East coast, or 23:30 tonight in Riyadh.
As Bloomberg writes, the Kingdom’s path toward potential inclusion in the index began three years ago with a concerted effort toward more transparent markets.
The expected inclusion of Saudi Arabia in MSCI’s emerging market index could boost foreign stock ownership to above 10 per cent of market capitalization and drive inflows of up to $40 billion by end-2019, according to the National. Foreign ownership, which currently is less than 2 per cent, could rise to up to 12 per cent by the end of 2019.