Tadawul begins fourth phase of FTSE inclusion

24/09/2019 Argaam Special

 

The fourth phase of Saudi Arabia's inclusion in FTSE Russell Emerging Market Index started yesterday, Sept. 23, 2019, based on closing prices of Sept. 19, 2019

 

Additionally, the second tranche of Tadawul’s upgrade to the emerging markets on S&P DJI also began yesterday.

 

The Saudi bourse was closed yesterday, on the occasion of the 89th National Day.

 

FTSE Russell had earlier said Tadawul’s inclusion in the emerging markets index will take place in five tranches over the course of 12 months.

 

On March 28, 2018, FTSE Russell promoted Saudi Arabia to emerging secondary market status, beginning March 2019. The inclusion is expected to be fully completed by March 2020.

 

Saudi Arabia is estimated to have an index weight of 0.25 percent in the FTSE Global Equity Index Series, and 2.7 percent in the FTSE Emerging All Cap Index.

 

In August, Tadawul completed the second and final phase of joining the MSCI Emerging Markets Index, raising its weight on the closely-monitored index to 2.8 percent.

 

Stages of  Including FTSE to the Saudi Market

Tranches

1st tranche

2nd tranche

3rd tranche

4th tranche

5th tranche

2018

Review date

March 18, 2019

May 1, 2019

June24, 2019

Sept. 23, 2019

March 23, 2020

Tranche size

10 %

15 %

25 %

25 %

25 %

Total

10 %

25 %

50 %

75 %

100 %

Non-active investments*

1.8

2.7

4.5

4.5

4.5

*SAR bln

 

The first tranche of Saudi Arabia’s inclusion in the S&P DJI Emerging Markets index also began in March, with the second phase completed in September 2019. Saudi Arabia was eligible for inclusion at 50% of float-adjusted market capitalization (FMC) in March and at 100 percent of FMC yesterday.

 

Stages of  Including S&P Emerging Markets Core Index to the Saudi Market

 

1st tranche

2nd tranche

Date on Inclusion

March 18, 2019

Sept. 23, 2019

Market Size*

50%

100%

*Percentage to total weight of Saudi market within the index

 

On Sept. 19, Tadawul extended the closing auction session to 20 minutes. A total of 136,290 million shares were traded on Sept. 19, at a total value of SAR 4.9 billion in 12,580 transactions.

 

Saudi Market Weight During its Inclusion in S&P Emerging Markets Core Index

Index

Inclusion of 50%

Inclusion of 100%

S&P Emerging Markets Core Index

1.30 %

2.57 %

S&P global Index

0.14 %

0.28 %

 

Auction Time Large Deals

Company

Deal price (SAR)

Deal size (share)

Deal value

(SAR mln)

Number of deals

Al Rajhi

62.30

10,479,033

652.84

892

SABIC

91.80

6,143,838

564.00

423

STC

105.00

4,929,614

517.61

386

NCB

46.00

8,934,886

411.00

154

Riyad

23.40

9,451,391

221.16

121

Alinma

21.88

8,958,419

196.01

560

SAFCO

82.00

1,954,998

160.31

248

Samba

28.25

5,123,154

144.73

110

Ma’aden

45.50

3,167,497

144.12

256

Jarir

159.60

840,260

134.11

151

Yansab

52.00

2,249,561

116.98

261

Mobily

23.72

4,053,655

96.15

244

Almarai

51.00

1,800,999

91.85

144

Savola

31.15

2,667,504

83.09

187

Dar Al Arkan

12.00

6,395,389

76.74

527

SEC

21.00

3,373,541

70.84

181

Saudi Kayan

10.10

6,465,451

65.30

170

Aljazira

13.76

4,698,080

64.65

251

SIIG

22.34

2,706,337

60.46

86

Albilad

26.90

2,001,942

53.85

252

Tawuniya

69.60

565,287

39.34

150

Zain

12.02

3,054,142

36.71

194

Tasnee

12.88

2,702,096

34.80

215

Advanced

47.00

731,525

34.38

109

Sipchem

16.26

2,005,375

32.61

93

Leejam

85.8

372,836

31.99

53

Emaar

9.93

3,084,749

30.63

151

Southern Cement

52.20

569,075

29.71

69

SGS

31.00

953,454

29.56

175

Bupa Arabia

106.00

262,944

27.87

79

BSF

34.20

775,530

26.52

61

SADAFCO

131.60

190,482

25.07

37

Saudi Cement

62.50

400,669

25.04

94

Petro Rabigh

19.40

1273,442

24.70

169

Catering

88.70

246,253

21.84

130

SRMG

85.70

246,264

21.10

53

Seera

16.80

1,156,862

19.44

63

Mouwasat

88.10

200,126

17.63

58

Yamama Cement

20.44

817,294

16.71

63

Yanbu Cement

31.65

522,009

16.52

88

SABB

30.00

524,956

15.75

47

Alhokair

24.62

611,431

15.05

104

Qassim Cement

50.40

274,786

13.85

64

Petrochem

23.00

521,976

12.01

52

Arabian Cement

29.70

393,251

11.68

59

Al Othaim

77.00

138,694

10.68

47

Al Hammadi

22.00

440,114

9.68

42

City Cement

14.20

663,866

9.43

58

eXtra

72.30

129,824

9.39

39

Saudi German Hospital

24.70

350,210

8.65

122

Eastern Cement

32.70

261,590

8.55

37

Aldrees

45.00

171,433

7.71

75

Budget Saudi

34.00

220,021

7.48

53

Herfy

52.10

135,015

7.03

35

Dallah

47.90

136,014

6.52

58

Hail Cement

9.01

713,190

6.43

79

Northern Cement

10.02

630,665

6.32

103

Najran Cement

9.18

584,632

5.37

53

Jadwa REIT Saudi

9.95

537,012

5.34

16

Al Jouf Cement

8.10

640,215

5.19

117

SAPTCO

15.60

327,594

5.11

79

ARDCO

15.00

335,376

5.03

20

SPIMACO

26.05

183,589

4.78

60

Saudi Ceramics

22.12

216,162

4.78

50

Al Akaria

11.92

385,240

4.59

29

NADEC

25.25

171,228

4.32

45

Dur

19.64

204,754

4.02

16

SAIB

15.48

258,120

4.00

1

Amiantit

18.00

219,533

3.95

138

Chemanol

7.74

486,393

3.76

34

National Learning

26.9

138,862

3.74

70

Care

53.00

68,841

3.65

21

Saudi Chemical

26.00

139,838

3.64

40

Derayah REIT

9.34

388,310

3.63

11

GASCO

29.40

121,439

3.57

20

Riyad REIT

7.81

456,414

3.56

57

MedGulf

14.70

218,634

3.21

25

Al Rajhi REIT

8.83

358,875

3.17

30

Aldrees

45.00

61,714

2.78

3

Aseer

8.68

314,878

2.73

29

Bawan

14.06

161,400

2.27

39

Zamil Industrial

16.28

138,144

2.25

19

Red Sea

12.98

154,627

2.01

25

Tabuk Cement

13.32

138,764

1.85

27

Alhokair Group

14.02

126,301

1.77

27

Astra

15.44

110,677

1.71

22

Alandalus

14.48

108,553

1.57

10

Arabian Centres

28.15

45,957

1.29

17

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