Nasdaq Dubai has released the names of the 12 Saudi companies that will form its new equity futures to be launched in September.
According to the exchange, the companies are “large and liquid stocks active in major industries” covering the real estate, petrochemicals, banking and transport sectors. They include Saudi Basic Industries Corporation, Al Rajhi Bank, Alinma Bank, Almarai Company and Etihad Etisalat Company.
The group has a combined market capitalisation of $229 billion, which represents 43% of the market cap of the Saudi Stock Exchange.
The single stock futures will be traded on Nasdaq Dubai in Saudi riyals.
According to Hamed Ali, chief executive of Nasdaq Dubai, the futures will “provide investors with new hedging and leverage tools that support their ability to play an active role in the Saudi equity market”.
©2018 funds global mena