The second and final tranche of the fifth phase of Saudi Arabia's inclusion in FTSE Russell Secondary Emerging Markets (EM) Index starts today, June 22, based on closing prices on June 18.

 

The fifth phase is divided into 2 tranches; the first was completed in March 2020 with an inclusion factor of 25%, while the second becomes effective today, with an inclusion factor of 75%.

 

The inclusion will increase Saudi Aramco’s weight from 0.51% to 0.77%, FTSE Russel said.

 

Tadawul’s inclusion in the emerging markets indices began in March 2019. The Saudi market joined MSCI Emerging Markets Index in August 2019, and S&P Dow Jones Indices (S&P DJI) last September.

 

The Saudi market was expected to attract a total of SAR 56 billion inactive flows throughout the phases of inclusion.

 

Stages of Including Tadawul into FTSE Emerging Market Index

Tranches

1st tranche

2nd tranche

3rd tranche

4th tranche

5th tranche

Review date

March 18, 2019

May 1, 2019

June 24, 2019

Sept. 23, 2019

March 23, 2020

June 2020

Tranche size

10 %

15 %

25 %

25 %

25 %

25%

75%

Total

10 %

25 %

50 %

75 %

81.25 %

100%

Inactive inflows*

1.80

2.70

4.50

4.50

1.12

3.38
                 

 

Timeline: Saudi inclusion on MSCI

Month

First phase

Second phase

Date

29 May 2019

29 August 2019

Value

50%

50%

Total Value

50%

100%

Inactive inflows*

18.75

18.75

 

S&P DJI Inclusion Stages

Tranches

1st tranche

2nd tranche

Inclusion date

March 18, 2019

Sept. 23, 2019

Tranche size

50%

50%

Total

50%

100%

*SAR billion (expected)

 

The closing auction and trade at last sessions saw active trading on Thursday, June 18, in line with the entry of FTSE’s foreign funds.

 

Investors traded 135.5 million shares in 16,850 transactions at a total value of SAR 4.4 billion.

 

Transactions on Thursday (June 18, 2020)

Company

Price (SAR)

Volume (share)

Value (SAR mln)

Number of Transactions

Saudi Aramco

33.10

20090189

664.99

2122

STC

99.00

4898032

484.91

198

SABIC

91.20

4746639

432.89

573

Al Rajhi Bank

58.90

5846785

344.38

188

NCB

37.60

8548172

321.41

225

ANB

20.90

9841376

205.68

173

BSF

30.70

5470821

167.95

206

Riyad Bank

17.64

8244587

145.43

168

Samba

23.70

6050144

143.39

226

Almarai

56.00

1799785

100.79

390

Alinma Bank

14.88

5843004

86.94

893

Savola

45.25

1911613

86.50

266

SAFCO

78.80

1058001

83.37

118

Yansab

53.10

1528823

81.18

267

Maaden

36.80

1955513

71.96

256

Saudi Electricity

16.16

3754137

60.67

203

Etihad Etisalat

28.70

1941264

55.71

118

Jarir

143.80

333002

47.89

117

Bank Albilad

22.22

2099774

46.66

268

SABB

23.28

1586573

36.94

106

Arabian Centres

22.70

1623491

36.85

244

Bupa Arabia

115.00

319625

36.76

101

Saudi Kayan

8.67

3648773

31.63

122

Al Othaim

116.20

240075

27.90

135

Sipchem

14.66

1890875

27.72

107

Advanced

52.50

509902

26.77

105

Dar Al-Arkan

7.27

3438596

25.00

154

Southern Cement

54.50

443116

24.15

193

Bank Aljazira

11.38

2009334

22.87

117

SIIG

20.42

1101125

22.48

101

Tasnee

10.36

2021393

20.94

147

Mouwasat

89.50

225606

20.19

47

Petrochem

25.30

785847

19.88

43

Catering

77.90

231686

18.05

253

Tawuniya

69.40

256702

17.82

106

Zain Saudi

11.44

1350047

15.44

96

Petro Rabigh

13.96

1068718

14.92

67

Saudi Cement

50.10

297129

14.89

198

SADAFCO

174.40

82272

14.35

70

Emaar EC

6.90

1910489

13.18

226

Seera

16.20

792949

12.85

218

SGS

28.05

405207

11.37

145

Qassim Cement

54.50

185434

10.11

83

NADEC

28.10

324094

9.11

135

Yanbu Cement

26.40

316277

8.35

50

Dur

25.15

321092

8.08

49

Leejam Sports

60.50

125004

7.56

69

SPIMACO

30.35

239973

7.28

36

Yamama Cement

19.98

328782

6.57

33

Saudi German Hospital

30.00

199608

5.99

43

City Cement

14.54

408385

5.94

99

Aldrees

56.20

105409

5.92

100

SRMG

62.00

95314

5.91

74

Al Hammadi

21.88

264525

5.79

36

Eastern Cement

27.25

208700

5.69

32

Al Akaria

12.62

434870

5.49

33

Alhokair

18.46

288605

5.33

52

Saudi Chemical

23.00

210653

4.85

58

Dallah healthcare

46.05

101333

4.67

81

Herfy Foods

44.00

96130

4.23

77

eXtra

54.70

76382

4.18

82

GASCO

27.75

147637

4.10

232

Arabian Cement

25.35

160649

4.07

62

Budget Saudi

27.65

145302

4.02

84

Arriyadh Development

14.22

278950

3.97

57

Hail Cement

11.30

324690

3.67

86

Chemanol

7.03

500428

3.52

96

Saudi Ceramic

34.60

92737

3.21

29

Najran Cement

10.62

299274

3.18

37

Northern Cement

9.73

326247

3.17

98

Care

42.50

74239

3.16

78

MedGulf

21.14

147205

3.11

64

Tabuk Cement

11.54

248294

2.87

72

Bawan

13.24

206107

2.73

50

Al Hokair Group

13.64

184576

2.52

86

Al Jouf Cement

8.29

300595

2.49

89

Al Othaim

116.20

21414

2.49

2

Astra

19.10

127344

2.43

54

Aseer

10.04

239896

2.41

61

SAPTCO

14.40

154120

2.22

48

Arabian Pipes

13.56

158885

2.15

70

SPM

31.20

56249

1.75

87

Dr. Sulaiman Al Habib Group

75.00

15390

1.15

38

Ash-Sharqiyah Development

68.50

15482

1.06

19

 

The following table illustrates the closing auction transactions throughout the phases of market inclusion in the emerging markets indices:

 

Transactions During Inclusion of Tadawul into Emerging Market Indices

Tranches

Investments (SAR bln)

Total number of shares (mln)

Total number of transactions (‘000)

FTSE

First phase*

1.40

38.5

5.4

Second phase

2.50

55.4

4.4

Third phase

5.21

125.2

8.6

Fourth phase

4.90

136.3

12.6

Fifth phase

2.20

88.6

10.9

MSCI

First phase

21.27

509.2

18.3

Second phase

19.70

503.3

17.3

*Inclusion of foreign funds affiliated to FTSE and S&P Dow Jones Indices

 

According to the requirements of the global indices' manager, these transactions will be completed during the closing auction and trade-at-last, which allows investors to determine stock prices to reach a fair price.

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