FTSE Russell changes investability weight of Tadawul Group in 3 Indexes

16/11/2022 Argaam

FTSE Russell changes investability weight of Tadawul Group in 3 Indexes

Logo of Saudi Tadawul Group

FTSE Russell changed the investability weight of Saudi Tadawul Group in three indexes.

 

As of today, Nov. 16, the Tadawul Group’s investability weight was updated on FTSE All-World Index, FTSE Global Mid Cap Index and FTSE Emerging Index.

 

This move came after the secondary offering launched by the Public Investment Fund (PIF), which raised the company’s free float and enhanced market liquidity levels for local and foreign investors, Tadawul Group said.

 

On Nov. 13, the Kingdom’s sovereign wealth fund successfully sold 12 million shares of its shareholding in Tadawul Group, which represents 10% of the company’s share capital.

 

The offering size was SAR 2.3 billion, to mark the second largest accelerated bookbuild offer ever in the Saudi market and the GCC region.

 

PIF’s remaining stake stands at 72 million shares, or 60% of the company’s share capital.

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