Al Rajhi, SABIC finish off 2014 as largest-weighted companies on Saudi bourse
04/01/2015
Argaam- Exclusive
Al-Rajhi Bank, Saudi Arabia’s biggest listed bank in terms of market capitalization, was the largest weighted component on the Saudi Stock Exchange index,
according to a report released by the exchange on Sunday.
The bank
reach
ed
7.62 percent on the index in the fourth quarter of last year, compared with 8.37 percent in the previous quarter
.
Petrochemical giant Saudi Basic Industries Corp. (SABIC) came second at 6.6 percent in the fourth quarter of 2014, compared with 8.61 percent in the previous quarter.
Free-float shares are any stakes less than ten percent held by an investor in a listed company, according to Tadawul. Company weights on the index are based on their free-float market capitalizations.
The National Commercial Bank, the kingdom’s largest bank in terms of assets, came in third at 4.96 percent, followed by Savola and Jabal Omar in the fourth and fifth positions, respectively.
Saudi Telecom Company’s stocks jumped to eighth place, while Mobily dropped from third to eleventh place.
The free-floating index is calculated after excluding state-owned stakes, strategic partners, founders, foreign funds and investors whose single portfolio is exposed to ten percent or more of the company.
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