MSX begins preparing new strategic plan for the next five years

The Muscat Stock Exchange (MSX) is nearing the completion of its 2022-2026 strategic plan, having achieved a 96% success rate. This strategy focused on creating an efficient investment environment aligned with Oman Vision 2040.

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The strategy set by the exchange between 2022 until the end of 2026 has achieved a completion rate of about 96 percent so far, after the completion of all major projects.

Haitham bin Salem Al Salmi, CEO of MSX, reported that all major projects are complete, with ongoing work on products like exchange-traded funds (ETFs) and fulfilling requirements for global index inclusion. The exchange has met FTSE Global Index criteria and awaits assessment.

MSX is now developing its next five-year strategic plan. This will involve introducing new financial products, enhancing technology, and defining the group's structure, potentially including listing as a public shareholding company.

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The stock exchange has begun preparing its strategic plan for the next five years, which includes introducing new financial products, developing technology plans, and defining the features of the stock exchange as a group, including its listing as a public shareholding company.

The initial strategy significantly boosted the market value of listed companies from 20% to 38% of GDP, with expectations to reach 40%. Average daily trading volume surged from less than OMR2 million to approximately OMR60 million, a 30-fold increase. Sectoral distribution has also diversified, with the financial and services sectors now more balanced against the previously dominant financial sector.

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The first strategy had a clear impact, most notably the increase in the market value of listed public shareholding companies from 20 percent of GDP to 38 percent currently, with expectations that it will reach about 40 percent after the listing of Omifco.

The number of companies with a market value exceeding OMR100 million has more than doubled, from 14 to 29. This enhances trading liquidity and market depth. Future plans include offering the remaining shares of the maritime transport company affiliated with the Asyad Group.

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There has been an increase in the average daily trading volume from less than OMR2 million to about OMR60 million per day, which is equivalent to a growth of 30 times since the beginning of the implementation of the strategy.