Mohammed al-Qweiz, Chairman of the Board of Directors of the Saudi Capital Market Authority, stated that 2019 is a crucial year for the Saudi market, and it marks the diversification of the investor base.

Muhammad al-Qweiz described the start of the first stages of the Tadawul upgrade for FTSE Russell and S&P Dow Jones tomorrow with the big shift in the lineup of investors, which signaled the entry of investors with a static strategy, indicating that foreign ownership reached 5.12%, expected to reach This ratio is to double,

The first stages of the Saudi financial market upgrade for FTSE Russell and S&P Dow Jones will start tomorrow on the 18th of this month according to the closing prices of the 14th of last March.

According to what Fotsilcell announced, the Saudi stock market will join the Emerging Markets Index in 5 stages, and it is expected that Tadawul will acquire 2.7% of the total value of the index, and that this percentage will rise to 4.6% after Aramco is listed on the stock exchange. Local.

Footsie Russell expects that the promotion of the Saudi market will lead to an influx of $ 20 billion over the next few years, to be an attractive market for IPOs.

Tadawul index will join in two stages, as the first stage will be implemented on the eighteenth of next March with 50% of the total weight of the Saudi market.

It is worth noting that, even before the start of the development phase, the Saudi market is ranked 25th globally in terms of market capitalization, which is the largest market in the Middle East, and he expressed his ambition to increase Tadawul's contribution to the economy.

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