31/01/2024 13:15:57

Saudi Exchange Celebrates the listing of Albilad MSCI Saudi Growth ETF on the Main Market

Riyadh, 31 January 2024: The Saudi Exchange today celebrated the listing of Albilad MSCI Saudi Growth ETF on the main market, an innovative addition to Saudi Exchange's growing ETF portfolio. The listing ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Mr. Zaid AlMufarih, CEO of Albilad Capital.

Mohammed Al-Rumaih, CEO of Saudi Exchange, said, “The listing of Albilad MSCI Saudi Growth ETF is another step in our mission to offer investors a diverse range of products, and help them leverage the potential of growth-oriented small and medium-sized businesses within the Saudi market. We now have 9 ETFs listed on the Saudi Exchange, offering investors a range of opportunities, and look forward to welcoming more.”

Zaid AlMufarih, CEO of Albilad Capital, said, “Following the successful listing of a series of ETFs managed by Albilad Capital, we are pleased to announce Albilad MSCI Saudi Growth ETF listing in the Saudi Exchange. This ETF is considered a tool that facilitates investors’ access to small and medium listed companies with growth-oriented expectations compared to other listed companies. This step also aligns with our commitment to providing innovative financial services that meet the ambitions of stakeholders, clients, employees, and shareholders.”

AlBilad MSCI Saudi Growth ETF listed 1.9 million units at the offer price of SAR 10 per unit. It is an open-ended public and Shariah-compliant ETF that aims to mirror the performance of the indicative index, excluding any distributions, fees, or expenses. The ETF involves passive management of a basket of shares from small and medium-sized companies, all of which are Shariah-compliant and listed on the Saudi Exchange. Units of Albilad Growth ETF are now available to trade on Saudi Exchange under the ticker [9408].