Written by 19:03 News, Business, Saudi Arabia, World

MSCI’s Global Small-Cap Indexes Now Include Three Additional Saudi Businesses

MSCI's Global Small-Cap Indexes Now Include Three Additional Saudi Businesses

Three Saudi firms have been added to the global and small-cap indexes of MSCI Inc., a prominent provider of research-based indexes and analytics, therefore broadening its coverage.

This decision is indicative of Saudi Arabia’s increasing influence in the global investment arena.

Al-Rajhi Company for Cooperative Insurance is now one of 42 Saudi companies included in MSCI’s Global Standard Index following its inclusion. Cenomi Centers and Modern Mills for Food Products Co. have both been added to the MSCI Saudi Arabia Small Cap Index, bringing the total number of Saudi companies in this index to 84.

These changes will go into effect on August 30 after the end of business. These Saudi businesses’ inclusion in MSCI’s indices highlights the Kingdom’s diversified and strong economic environment.

With a market capitalization of $44.72 billion, Al Rajhi Bank is the largest company on the Global Standard Index for Saudi Arabia. Saudi National Bank and Saudi Aramco are next with market capitalizations of $29.78 billion and $26.70 billion, respectively. Saudi Telecom Co., Saudi Basic Industries Corp., ACWA Power, and Saudi Arabian Mining Co. are a few other noteworthy businesses in the MSCI Index.

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