DUBAI: The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets. The highly-anticipated share sale has become emblematic of Saudi Arabia’s push to transform its economy and open its doors to more foreign capital. Aramco’s “partial privatisation will bring much attention on Saudi Arabia,” said Michael Bolliger, the Zurich-based head of emerging-market asset allocation at UBS Wealth Management, which has clients worth US$2.1 trillion. That would crown it as the biggest listing ever but also mean absorption of the whole deal on the local exchange would be near impossible. Saudi Arabia expects MSCI Emerging Markets Index inclusion in the near future, the exchange’s chief executive officer said yesterday.

Source: The Star February 26, 2017 21:56 UTC