Riyadh – Mubasher: Nasdaq Dubai on Tuesday has said that it will launch equity futures for 12 Saudi companies in September.

The firms include the Saudi Basic Industries Corporation (SABIC), Kayan Petrochemical Company, Saudi Electricity Company (SEC), Saudi Cement Company, Saudi Arabian Mining Company, and Rabigh Refining and Petrochemical Company. 

The six other companies are Altayyar Travel Group, Dar Al Arkan Real Estate Development Company, Etihad Etisalat Company, Almarai Company, Alinma Bank, and Al Rajhi Bank, according to a statement.

The market capitalisation value of the 12 Saudi firms stands at SAR 859 billion ($229 billion), making up about 43% of the Saudi Stock Exchange’s (Tadawul) market capitalisation.

This move, that will enable investors to make gains whether share prices are rising or falling, is forecast to pump more investments in the Saudi bourse, while “the single stock futures will be traded on Nasdaq Dubai in Saudi riyals (SAR)”, the statement added.

“We are delighted to provide investors with new hedging and leverage tools that support their ability to play an active role in the Saudi equity market through trading our futures,” Nasdaq Dubai’s CEO Hamed Ali said.