Saudi Companies Shine on Global Stage
Eight new Saudi companies have made their mark on MSCI’s global and small capital indexes, showcasing the Kingdom’s increasing influence in the global investment landscape.
MSCI Global Standard Index
SAL Saudi Logistics Services Co. has been added to the MSCI Global Standard Index, as revealed in an official document from the financial solution provider.
Small Cap Index Additions
Seven stocks, including Al-Babtain Power & Telecommunication, Etihad Atheeb Telecom, and the Mediterranean and Gulf Insurance and Reinsurance Group, have been included in MSCI’s Small Cap Index. Additional inclusions consist of Middle Mast Pharmaceutical Industries Co. (Avalon Pharma), Saudi Advanced Industries Co., Saudi Paper Manufacturing Co., and Walaa Cooperative Insurance Co.
Exclusions from Small Cap Index
Six companies have been removed from the Small Cap Index, including Amlak International for Real Estate Development & Finance Co. (Amlak), Fawaz Abdulaziz Al Hokair & Co. (Cenomi Retail), Methanol Chemicals Co., Riyad REIT, Saudi Co. for Hardware, and Saudi Arabian Refineries Co.
Market Impact
These changes will take effect at market close on May 31, with the number of Saudi companies on the Small Cap Index now totaling 80 and the Global Standard Index featuring 41 companies. The diverse economic landscape of the Kingdom is well-represented in the MSCI Global Standard Index, with Aramco leading the list.
Industry Representation
The Kingdom’s banking, industrial, petrochemical, telecommunications, technology, healthcare, retail, consumer goods, and energy sectors are well-represented in the MSCI indexes, highlighting Saudi Arabia’s leadership in these fields. Key players include SABIC, Al-Rajhi Bank, stc, Bupa Arabia, Aramco, and more.
Diverse Corporate Environment
The Saudi companies in the MSCI Small Cap Index span various sectors, showcasing the dynamic nature of Saudi Arabia’s corporate landscape. From Saudi Cement to Al-Rajhi Takaful, these companies represent the diverse economic activities in the Kingdom.
MSCI Leading the Way
As a premier provider of essential decision support tools and services for the global investment community, MSCI continues to play a vital role in shaping the international investment landscape.