MSCI adds 8 Saudi firms, excludes 6 in periodic review

MSCI Inc, the provider of research-based indexes and analytics, announced the results of its periodic review, adding SAL Saudi Logistics Services Co. to the MSCI Global Standard Index.

Meanwhile, the index added seven firms to MSCI Saudi Arabia Small Cap Index, namely, Al-Babtain Power and Telecommunication Co., Etihad Atheeb Telecommunication Co., Mediterranean and Gulf Insurance and Reinsurance Co.  (MEDGULF), Middle East Pharmaceutical Industries Co. (Avalon Pharma), Saudi Advanced Industries Co.  (SAIC), Saudi Paper Manufacturing Co. and Walaa Cooperative Insurance Co.

In addition, MSCI excluded six companies from MSCI Saudi Arabia Small Cap Index, which are Amlak International Finance Co., Fawaz Abdulaziz Alhokair Co.  (Cenomi Retail), Methanol Chemicals Co. (Chemanol), Riyad REIT Fund, Saudi Company for Hardware (SACO) and Saudi Arabia Refineries Co. (SARCO).

Accordingly, the total number of constituents on the MSCI Saudi Arabia Small Cap Index stood at 80, while the number of the companies included in the MSCI Global Standard Index reached 41.

MSCI will implement the changes by the close of trading on May 31, 2024.