Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the fast entry for the Saudi Arabian Oil Company (Saudi Aramco) to the benchmark Tadawul All Share Index (TASI) and the energy industry group index.

The decision is effective starting from 18 December 2019, according to a statement on Wednesday.

Tadawul recently updated the methodology for developing and managing its equity indices ahead of the world’s largest initial public offering (IPO), as it started applying a new rule for fast entry whereby shares of significantly large IPOs are included in TASI at the close of the fifth trading day.

Moreover, free float shares calculation methodology has been revised with regards to non-free float shares owned by a Government entity where ownership is 5% and more.

The Saudi exchange also started applying index capping for TASI with a threshold of 15%.

Except for the Fast Entry rule that was effective immediately on 2 December, changes related to free-float shares and index capping for TASI will be effective by the end of the fourth quarter (Q4) of 2019.