Saudi to launch petrochemicals ETF

07 July 2010

Saudi-based investment bank, Falcom Financial Services is to launch an exchange-traded fund (ETF) for Saudi petrochemical shares on the Arab world's largest bourse, Reuters has reported. The fund has an initial value of SR25m ($6.7m) and will start trading on July 10. Falcom did not specify whether the fund would be open for foreigners but analysts are expecting this to be the case after its previous fund was open to non-Saudis.

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