Skip to content Skip to Search
Skip navigation

Omani bourse eyes FTSE and MSCI emerging market status

Muscat Stock Exchange
MSX CEO Haitham Al Salmi says that exchange is seeking a listing on the Omani market in the next five years.

The Muscat Stock Exchange (MSX) is working on upgrading to the ‘Emerging Market’ stock exchange status as part of a five-year strategy to go private in five years through a listing, the Oman Daily Observer reported, citing CEO Haitham Al Salmi.

He added that the bourse is currently focusing on reclassifying the market to enter global indices such as FTSE, MSCI, and others, which require minimum liquidity, minimum market cap and major technical requirements to upgrade from the current ‘Frontier Market’ status.

According to the newspaper, MSX has met the 12 conditions of the FTSE upgrade by concentrating on liquidity and market cap.

MSX hopes to secure a place on the watch-list of FTSE and MSCI,  with an upgrade taking another year, Al Salmi said, adding regular broker meetings are taking place to achieve the target.

The CEO stated that MSX is seeking a listing on the Omani stock market within five years.

Latest articles

Microsoft president Brad Smith and G42 CEO Peng Xiao (right) sign the $1.5bn investment deal in the presence of G42 chairman Sheikh Tahnoon bin Zayed Al Nahyan

Microsoft invests in UAE’s AI leader G42 

The US tech giant Microsoft will invest $1.5 billion in the Abu Dhabi-based artificial intelligence (AI) company G42 to help accelerate its global expansion strategy. As part of the deal G42 will run its AI applications and services on Azure, Microsoft’s cloud computing platform. Brad Smith, vice-chair and president of Microsoft, will join the G42 […]

Spinneys CEO Sunil Kumar and chairman Ali Al Bwardy. The company operates 75 grocery retail supermarkets in the UAE and Oman

Spinneys to offer 900m shares in Dubai IPO

Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […]

The number of international passengers at DXB reached nearly 87 million in 2023, rising 32% from the previous year

DXB remains world’s busiest international airport

Dubai International (DXB) has maintained its status as the world’s busiest international airport, beating London and Amsterdam, the Airports Council International (ACI), an association of world airports, said in a new report. DXB has secured the top place for the 10th consecutive year, with the number of international passengers reaching nearly 87 million in 2023, […]

Architecture, Building, Cityscape

World Bank raises UAE’s economic growth outlook

The World Bank has raised its UAE economic growth forecast for 2024 and 2025, citing robust non-oil sector growth and higher oil output. The real GDP growth projection for the Gulf state was revised to 3.9 percent this year, up from its previous forecast of 3.7 percent in January, the World Bank said in its […]