Saudi Tadawul Group Holding Company has announced that it has joined three global indices belonging to the FTSE Russell Group, a global provider of indices, analytics and data solutions.
Tadawul group stated, in a statement, that starting today, Wednesday, the group will be included in the (FTSE All-World Index), (FTSE Global Mid Cap Index) and (FTSE Emerging Index).
He added that this step comes on the heels of the Public Investment Fund’s secondary offering of the group’s shares, in how this transaction has helped to increase the free float of the company’s shares and improve liquidity levels in the market for local and international investors.
On Sunday, November 13, 2022 AD, the Public Investment Fund announced the successful completion of the sale of part of its stake in Saudi Tadawul Group through the process of book-building accelerated.
The Fund sold 12 million shares, representing 10% of the shares it owns in the company.
The volume of the offering amounted to 2.3 billion riyals and is considered to be the second largest accelerated bookbuilding transaction ever in the Saudi market and the GCC region.
The remaining share of the fund after the sale is equal to 60% of the company’s capital.
Read More About: Business News