Finance / Saudi Arabia
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Saudi's Revamped Tadawul Sees Largest IPO
April 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Tadawul All-Share Index (TASI) jumped 2.5% April 5 after the index was recalculated to reflect the number of shares freely available for trading rather than total capitalisation, a move that increased the numbers of sectors represented on the index from eight to 15. Under the new reforms, only shares that can be traded on the exchange are included on the index, meaning stock owned by the government and institutions are excluded. The index was also renamed the TASI - it was previously called the Saudi All-Share Index (SASI) - taking the name of the company that runs the Saudi