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SABIC Featured in New Saudi ETF
July 10, 2010 – The Capital Market Authority recently approved the Kingdom’s second exchange-traded fund (ETF), which is set to post July 10 and will be worth $6.7 million (SR25 million). The new ETF, managed by Falcom Financial Services, will offer a stock bundle of 14 petrochemical companies, including industry leader Saudi Basic Industries Corporation on the Saudi Stock Exchange (Tadawul). The first ETF offered in the Kingdom was approved in March and is also managed by Falcom. Together these ETFs represent the first option for foreign direct investment on the Tadawul.
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