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Tuesday, May 21, 2024

MSCI Adds Eight New Saudi Companies to Global and Small Cap Indexes

MSCI Adds Eight New Saudi Companies to Global and Small Cap Indexes

Eight new Saudi companies have been added to MSCI's Global and Small Capital Indexes, showcasing the Kingdom's increasing impact on international investment.
SAL Saudi Logistics Services Co. was included in the MSCI Global Standard Index, while seven stocks, including Al-Babtain Power & Telecommunication, Etihad Atheeb Telecom, and Mediterranean and Gulf Insurance and Reinsurance Group, were added to the Small Cap Index.

Additional inclusions were Middle Mast Pharmaceutical Industries Co. (Avalon Pharma), Saudi Advanced Industries Co., Saudi Paper Manufacturing Co., and Walaa Cooperative Insurance Co. Six companies were removed from the Small Cap Index: Amlak International for Real Estate Development & Finance Co. (Amlak), Fawaz Abdulaziz Al Hokair & Co. (Cenomi Retail), Methanol Chemicals Co., and Riyad REIT.

MSCI is making changes to the Saudi Stock Exchange, removing some companies from the Small Cap Index and adding others to the Global Standard Index.

The number of Saudi companies in the Global Standard Index will be 41, while the Small Cap Index will have 80.

Aramco, Al-Rajhi Bank, Riyad Bank, Alinma Bank, National Commercial Bank, SABB, Saudi Investment Bank, SABIC, Advanced Petrochemical, and Saudi Basic Industries Corp. are among the companies included in the Global Standard Index, reflecting the diverse economic landscape of Saudi Arabia, with a focus on oil, banking, and industry.

The changes will take effect on May 31.

Saudi Arabia is home to several leading companies in various industries, including agribusiness (SABIC Agri-Nutrients, Kayan, Yansab, and Ma’aden), telecommunications and technology (stc and solutions by stc), healthcare (Bupa Arabia for Cooperative Insurance Co., Dr Sulaiman Al Habib Medical Services Group Co., Al-Mouwasat, Dallah Healthcare, and Al-Nahdi Medical Co.), retail and consumer goods (Jarir Marketing Co., Almarai Co., and Savola Group), energy (Saudi Electricity Co., ACWA Power, and Power and Water Utility Co. for Jubail and Yanbu), media and research (Saudi Research and Media Group), finance (Tadawul Group), and logistics (Luberef, ADES Holding Co., and SAL Saudi Logistics Services Co.).

These companies demonstrate the diverse and dynamic corporate environment in Saudi Arabia.

The MSCI Small Cap Index in Saudi Arabia includes a variety of companies from different sectors.

Some of these companies are Saudi Cement, Ataa Educational Co., Al-Rajhi Takaful, eXtra, and Arriyadh Development Co., also known as Tameer.

MSCI is a leading provider of investment tools and services for the global investment industry.
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