|22 December, 2019

HSBC suspends subscription to MT30 Saudi ETF units

The decision comes due to applying the rebalancing of the fund’s basket in order to be in line with the new nature of the fund,

A 3D printed HSBC logo is seen in front of a displayed Saudi Arabia flag in this illustration taken August 8, 2017.

A 3D printed HSBC logo is seen in front of a displayed Saudi Arabia flag in this illustration taken August 8, 2017.

REUTERS/Dado Ruvic/Illustration

Riyadh – HSBC Saudi Arabia announced that subscription and redemption requests for HSBC MSCI Tadawul 30 Saudi exchange-traded fund (ETF) units have been suspended effective from today 22 December 2019.

The decision comes due to applying the rebalancing of the fund’s basket in order to be in line with the new nature of the fund, according to a statement to the Saudi Stock Exchange (Tadawul).

It is worth noting that the MSCI Tadawul 30 (MT30) Index is jointly launched by MSCI and Tadawul.

Tadawul completed its inclusion on the MSCI emerging markets index in August.

Source: Mubasher

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