Global index provider FTSE Russell said it will implement changes to the FTSE Saudi Arabia Inclusion Index Series today, March 18, 2021, during the semi-annual review for its indices.
All constituent changes will become effective on Friday, March 19, or after the close of business on Thursday, March 18.
As Friday is the beginning of weekend in Saudi Arabia, the changes are expected to be implemented on Monday.
According to the index compiler, Yamama Cement Co. was added to the Global Equity Index All-Cap Index and FTSE Saudi Arabia Mid Cap Index.
FTSE also added Al-Omran Industrial Trading Co., Sadr Logistics Co., Swicorp Wabel REIT Fund, and Arab Sea Information Systems Co. to the FTSE Global Micro Cap Index Series (Micro Cap). Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) was removed from the index.
NCB Capital previously said that, following the addition of Yamama Cement to the semi-annual review of FTSE, the number of Saudi companies in the index will hit 49.
The investment weight was raised for Saudi Airlines Catering Co. (Saudi Catering) but reduced for SABIC Agri-Nutrients and Saudi British Bank (SABB), due to expected external cash outflows of SAR 31.2 million as a result of changes.
The table below indicates the following:
|
FTSE Russel Semi-Annual Review |
|
|
Company |
Expected cash flows (SAR mln) |
|
Yamama Cement |
93.7 |
|
Catering |
4.5 |
|
SABIC Agri-Nutrients |
(76.5) |
|
SABB |
(53.9) |
|
Total |
(31.2) |
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