ABU DHABI, July 31 (Reuters) - Nasdaq Dubai will launch equity futures trading of 12 Saudi Arabian companies from September, stimulating investor interest in the kingdom’s capital markets, the exchange said.
Nasdaq Dubai, which launched UAE futures trading in 2016, announced in May this year it would add Saudi single futures.
On Tuesday, it identified the 12 Saudi companies, which have a combined market capitalization of 859 billion Saudi riyals ($229 billion), representing 43 percent of the Saudi stock exchange.
The companies are Saudi Basic Industries Corp (SABIC) , Al Rajhi Bank, Alinma Bank, Almarai Company, Dar Al Arkan Real Estate Development Co, Etihad Etisalat Company, Rabigh Refining and Petrochemical Co, Saudi Arabian Mining Company , Saudi Cement Company, Saudi Electricity Company, Saudi Kayan Petrochemical Company and Altayyar Travel Group.
The single stock futures will be traded on Nasdaq Dubai in Saudi riyals (SAR), which is the currency of the underlying shares. (Reporting By Stanley Carvalho, Editing by William Maclean)