HSBC Saudi Arabia announces incorrect pricing of iNAV/unit of HSBC MSCI Tadawul 30 Saudi ETF

HSBC Saudi Arabia announced an incorrect pricing of the indicative net asset value (iNAV) per unit of HSBC MSCI Tadawul 30 Saudi ETF during the trading hours on May 9, 2022, resulting in the inability of the market maker to provide the necessary liquidity to ensure the stability of the NAV per unit.

In a statement to Tadawul, HSBC Saudi Arabia said all affected unitholders will be compensated, including former unitholders, for the pricing error without delay.

The total value of trades affected by the error was SAR 85,829.50.

The fund’s net asset value (NAV) and NAV per unit after the correction are: a total NAV of SAR 16,294,158.31, unit price (after correction) of SAR 56.1868, and NAV per unit error percentage of 5.73%.