HSBC Saudi Arabia announced a non-fundamental change to HSBC MSCI Tadawul 30 Saudi ETF, as the fund manager was changed from HSBC Saudi Arabia to Alawwal Invest Co.
The change will take effect on Sept. 18, HSBC Saudi Arabia said in a bourse filing today, Sept. 1.
In May 2021, Saudi British Bank (SABB) said that its two affiliates signed a business transfer agreement related to the sale and purchase of certain lines of business, Argaam earlier reported.
The seller party is HSBC Saudi Arabia, in which SABB owns 49%, and the buyer is Alawwal Invest Co., in which SABB owns 100%.
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