MSX liquidity rises as Oman steps up global capital push: CEO
Source: Oman Observer — Business
Original summary written by Tharwa from the source above. How we source and correct stories
The story in brief
MUSCAT: The Muscat Stock Exchange (MSX) has more than doubled in market capitalisation since 2020, while average daily traded value has risen more than thirtyfold, according to MSX CEO Haitham al Salmi.Speaking to CNBC on the sidelines of the Belt and Road Summit in Hong Kong, Al Salmi said reforms linked to Oman Vision 2040, a growing pipeline of initial public offerings and measures to deepen liquidity had transformed the performance and profile of the Omani market.“If we take the base year of 2020, we are currently double the size in terms of market cap”, he said.Daily trading value had increased from around $5 million to between $140 million and $150 million, he added, representing more than 30 times the level recorded at the beginning of the market’s expansion drive.The improvement in liquidity had helped unlock the value of listed companies and supported stronger index performance.
Detailed summary
MUSCAT: The Muscat Stock Exchange (MSX) has more than doubled in market capitalisation since 2020, while average daily traded value has risen more than thirtyfold, according to MSX CEO Haitham al Salmi.Speaking to CNBC on the sidelines of the Belt and Road Summit in Hong Kong, Al Salmi said reforms linked to Oman Vision 2040, a growing pipeline of initial public offerings and measures to deepen liquidity had transformed the performance and profile of the Omani market.“If we take the base year of 2020, we are currently double the size in terms of market cap”, he said.Daily trading value had increased from around $5 million to between $140 million and $150 million, he added, representing more than 30 times the level recorded at the beginning of the market’s expansion drive.The improvement in liquidity had helped unlock the value of listed companies and supported stronger index performance. Al Salmi said the MSX index rose 28.5 per cent last year and had gained about 28 per cent year to date, making it the best-performing market in the Gulf Cooperation Council.He attributed the gains to a series of market-development initiatives, including extended trading hours, the launch of the parallel AIM market and a programme of government-related listings that had attracted strong demand from domestic and international investors.The recent initial public offering of Oman India Fertiliser Company (Omifco) was subscribed more than 18 times, demonstrating the depth of investor appetite for quality Omani assets, he said.“We are not just creating liquidity; we are bringing value back to the Omani market and attracting the attention of international investors to Oman”, Al Salmi said.Oman is also seeking to build stronger investment links with Asian markets.
Background & context
This story sits within Oman's broader reform agenda and efforts to grow Capital Markets as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.
Key numbers & facts
- MUSCAT: The Muscat Stock Exchange (MSX) has more than doubled in market capitalisation since 2020, while average daily traded value has risen more than thirtyfold, according to MSX CEO Haitham al Salmi.Speaking to CNBC on the sidelines of the Belt and Road Summit in Hong Kong, Al Salmi said reforms linked to Oman Vision 2040, a growing pipeline of initial public offerings and measures to deepen liquidity had transformed the performance and profile of the Omani market.“If we take the base year of 2020, we are currently double the size in terms of market cap”, he said.Daily trading value had increased from around $5 million to between $140 million and $150 million, he added, representing more than 30 times the level recorded at the beginning of the market’s expansion drive.The improvement in liquidity had helped unlock the value of listed companies and supported stronger index performance.
- MUSCAT: The Muscat Stock Exchange (MSX) has more than doubled in market capitalisation since 2020, while average daily traded value has risen more than thirtyfold, according to MSX CEO Haitham al Salmi.Speaking to CNBC on the sidelines of the Belt and Road Summit in Hong Kong, Al Salmi said reforms linked to Oman Vision 2040, a growing pipeline of initial public offerings and measures to deepen liquidity had transformed the performance and profile of the Omani market.“If we take the base year of 2020, we are currently double the size in terms of market cap”, he said.Daily trading value had increased from around $5 million to between $140 million and $150 million, he added, representing more than 30 times the level recorded at the beginning of the market’s expansion drive.The improvement in liquidity had helped unlock the value of listed companies and supported stronger index performance.
Key points
- MUSCAT: The Muscat Stock Exchange (MSX) has more than doubled in market capitalisation since 2020, while average daily traded value has risen more than thirtyfold, according to MSX CEO Haitham al Salmi.Speaking to CNBC on the sidelines of the Belt and Road Summit in Hong Kong, Al Salmi said reforms linked to Oman Vision 2040, a growing pipeline of initial public offerings and measures to deepen liquidity had transformed the performance and profile of the Omani market.“If we take the base year of 2020, we are currently double the size in terms of market cap”, he said.Daily trading value had increased from around $5 million to between $140 million and $150 million, he added, representing more than 30 times the level recorded at the beginning of the market’s expansion drive.The improvement in liquidity had helped unlock the value of listed companies and supported stronger index performance.
- Al Salmi said the MSX index rose 28.5 per cent last year and had gained about 28 per cent year to date, making it the best-performing market in the Gulf Cooperation Council.He attributed the gains to a series of market-development initiatives, including extended trading hours, the launch of the parallel AIM market and a programme of government-related listings that had attracted strong demand from domestic and international investors.The recent initial public offering of Oman India Fertiliser Company (Omifco) was subscribed more than 18 times, demonstrating the depth of investor appetite for quality Omani assets, he said.“We are not just creating liquidity; we are bringing value back to the Omani market and attracting the attention of international investors to Oman”, Al Salmi said.Oman is also seeking to build stronger investment links with Asian markets.
Why this matters
This matters because activity in Capital Markets shapes capital flows, hiring and investor sentiment across Oman.
Economic & market impact
Potential impact: - Listed GCC equities and indices may see direct trading reaction.
GCC angle
For the rest of the GCC, this is a signal on the pace of activity in Capital Markets. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.
Risks & uncertainty
There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.
What happens next?
Watch for upcoming disclosures from listed names in Capital Markets, official macro releases for Oman, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.
Sources used
This is an original Tharwa briefing based on the available source material. Read the full article from the publisher.
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