Riyadh – Mubasher: MSCI Inc. has added the MSCI Saudi Arabia index to its emerging-markets index (EM Index), according to MSCI’s semi-annual index review.
The US-based index compiler said the stocks of 30 Saudi firms will be added, accounting for an aggregate weight of 1.42% in the MSCI Emerging Markets Index.
The stocks which will be listed are Advanced Petrochemical, Al Rajhi Bank, Al marai Co, Bank AlJazira, Bank Albilad, Banque Saudi Fransi (BSF), Bupa Arabia for Cooperative Insurance Company, and The Company for Cooperative Insurance (Tawuniya).
The list of the Saudi securities also includes Dar Alarkan Real Estate Development Company (Dar Alarkan), Emaar The Economic City, Etihad Etisalat Co (Mobily), Jarir Marketing Company, and National Commercial Bank (NCB).
National Industrialization Co (Tasnee), Rabigh Refining and Petrochemical Co. (Petro Rabigh), Riyad Bank, Samba Financial Group, Saudi Airlines Catering Company, Saudi Arabian Fertilizer Company (SAFCO), and Saudi Arabian Mining Company (Ma’aden) will be also included to the EM Index, the world’s largest index provider noted.
MSCI Inc said that the inclusion also comprises Saudi Basic Industries Corporation (SABIC), The Saudi British Bank (SABB), Saudi Cement Co, Saudi Electricity Co (SEC), Saudi Industrial Investment Group (SIIG), Saudi Kayan Petrochemical Co, The Saudi Telecom Co (STC), Savola Group, Yanbu National Petrochemical Company (Yansab), and Alinma Bank.
MSCI Inc conducts its semi-annual review in May and November each year.
In January, MSCI Inc and the Saudi Stock Exchange (Tadawul) launched tradeable index which includes the 30 biggest firms listed on the kingdom’s bourse.