The first phase of Saudi Arabia’s inclusion on MSCI Emerging Markets Index officially kicked off yesterday, following the listing of 30 Saudi securities as of the close on May 28.
The 30 stocks represent an aggregate weight of 1.42 percent. Tuesday was the first tranche inclusion, and the second is expected in August. Both will result in attracting around SAR 37.5 billion in passive inflows.
On May 13, MSCI Inc announced it would include the MSCI Saudi Arabia Indexes in Emerging Markets Index.
Here’s a list of the 30 firms that were added to the MSCI Emerging Markets Index, as shared by MSCI with Argaam.
- SABIC
- Samba
- SABB
- Almarai
- Yansab
- SAFCO
- Savola
- Advanced
Apart from these 30 stocks, there have been subsequent updates to the list due to corporate actions from May 13-May 28, according to MSCI.
As a result, “in total, 31 Saudi Arabian securities were added to the MSCI EM Index as of the close of May 28, 2019,” MSCI said in an email statement sent to Argaam.
“The additional security is ‘Saudi Intl Petrochem’ which used to be a Small Cap constituent in the broader Saudi Arabia Investable Market Index,” MSCI added.
Write to Sunil Kumar Singh at sunil.kumar@argaamplus.com
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