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Saudi Arabia’s Capital Markets Authority has approved Albilad Capital's request to offer CSOP MSCI Hong Kong China Equity ETF units on the Saudi Tadawul Exchange as an exchange traded fund (ETF).
The Hong Kong-based CSOP Asset Management is a top issuer of ETFs. Last year it listed the CSOP Saudi Arabia ETF, the first exchange traded product in Asia Pacific tracking the Saudi Arabian equity market. The Saudi sovereign wealth fund, Public Investment Fund (PIF), is an anchor investor in CSOP Saudi Arabia ETF.
Saudi Arabia’s first exchange traded funds investing in Hong Kong’s equities market will be listed on the local stock exchange before the end of the year, The Financial Times quoted Paul Chan, Hong Kong’s financial secretary, as saying.
Earlier this year Albilad Capital listed and began trading Albilad MSCI Saudi Growth ETF units.
(Writing by Brinda Darasha; editing by Seban Scaria)
