SABIC CEO says joining MSCI Index to enhance transparency

The presence of Saudi Basic Industries Corp (SABIC) as a listed company in Morgan Stanley Capital International (MSCI) Emerging Market Index will enhance transparency and attract more investors, its CEO Yousef Al-Benyan said in a statement.

“As the third largest petrochemical player in the world, the company is aware of its responsibilities and adheres to the highest organizational structures and the best investor relations practices,” Al-Benyan added.

He also noted that the inclusion of Tadawul in MSCI Index will help diversify local economy, and provide support to achieve long term objectives.

In August, Tadawul completed its full inclusion into the MSCI Emerging Markets Index with the successful implementation of the second and final phase.