FTSE Russell adds five Saudi firms to its indices
FTSE Russell has added five Saudi companies to its indices, it announced in its quarterly review.
It is a leading global index provider of benchmarks, analytics, and data solutions.
Saudi firms Luberef, Arabian Drilling, and Marafiq have been added to FTSE Mid Cap Index and FTSE Global Equity Index. While Alsaif Gallery and 2P have become part of the FTSE Global Microcap Index Series and Global Equity Index All-Cap Index.
The index provider was scheduled to implement these changes by the close of June 16. However, as the date falls on Friday, the changes will take effect on June 15.
Saudi Arabia opened its stock market to foreign investors in 2015. It has since introduced several reforms to make its capital markets attractive to foreign investors and issuers and to expand its institutional investor base, as part of an ambitious plan to diversify the economy away from oil.
Saudi firms Luberef, Arabian Drilling, and Marafiq have been added to FTSE Mid Cap Index and FTSE Global Equity Index. While Alsaif Gallery and 2P have become part of the FTSE Global Microcap Index Series and Global Equity Index All-Cap Index.
The index provider was scheduled to implement these changes by the close of June 16. However, as the date falls on Friday, the changes will take effect on June 15.
Saudi Arabia opened its stock market to foreign investors in 2015. It has since introduced several reforms to make its capital markets attractive to foreign investors and issuers and to expand its institutional investor base, as part of an ambitious plan to diversify the economy away from oil.
