In continuous efforts to develop and support investors in the capital markets, the Capital Market Authority (CMA) amended on Monday 01/04/1429H, corresponding to 7th April, 08, the license of: HSBC Saudi Arabia Limited Company to include conducting Dealing as principal, and underwriter, Managing, Arranging, Advising and Custody in the Securities Business.
HSBC Saudi Arabia offers a full range of investment services tailored to fit individual client's needs and actively works on providing the best solutions for the local market.
9 April 2008
HSBC Saudi Arabia Ltd. provides opportunities to invest in the global emerging markets
HSBC SA Ltd. began receiving subscription applications for its new investment Shariah-compliant Fund “HSBC Global Emerging Markets Fund” subsequent to the success of their other Funds previously launched.
HSBC Global Emerging Markets Equity Fund (GEM) aims to provide long-term capital growth by investing in a diversified portfolio of Shariah-compliant equities with an official listing on a major Stock Exchange or other Regulated Markets of emerging market countries, as well as in equities of companies listed on other Stock Exchanges and Regulated Markets which carry out a substantial part of their economic activities in an emerging market country. The Fund will pursue its objective through active management of a portfolio of Shariah-compliant equities.
The Fund’s investment universe will comprise more than 15 emerging market countries; typical emerging market countries include Brazil, Russia, China, Taiwan, South Korea, Mexico, India and South Africa with a possibility to invest in any geography falling within the scope of emerging markets depending on the emerging opportunities.
Subscription applications will be received during the initial launch period which extends to 05 March 2008 at a price of USD 10 per unit. Investment will be available to the Company’s customers and other non-company investors. The Fund is open-ended and subscription applications will be accepted after the initial launch period. The actual fund investment date will be 06 March 2008. The Fund units will be valued twice a week, and the date for reception of subscription and redemption applications will be before 12:00 PM on Monday in respect of the valuation day of the next Tuesday, and before 12:00 PM on Wednesday in respect of the next Thursday valuation.
01 March 2008
HSBC Saudi Arabia Limited, the Financial Advisor and Lead Manager for the initial public offering (“IPO”) of Rabigh Refining and Petrochemical Company (“Petro Rabigh”), has announced that the preparation work for Petro Rabigh IPO is proceeding smoothly. Timothy Gray, the Chief Executive Officer of HSBC Saudi Arabia, has confirmed that all receiving banks’ branches will be ready to receive investors’ applications for 219 million shares between Saturday 5/1/2008 until the last day of subscription on Saturday 12/1/2008.
Mr. Gray mentioned that the share price has been determined based on the institutional bookbuilding process at SR 21 representing SR 10 par value and SR 11 premium, with a total offering size of SR 4,599 million. 50% of the IPO shares will be offered to Saudi individuals and the remaining 50% will be offered to selected institutional investors. The Lead Manager reserves the right to reduce the institutional allocation from 50% to 25% in the event that retail demand is sufficient and upon approval of the CMA. The minimum subscription is 10 shares and the maximum is one million shares.
With regard to the allocation of shares, Mr. Gray mentioned that a maximum of SAR 37.5 million worth of shares will be allocated to Petro Rabigh employees. The allocation to retail subscribers will be performed in two stages: in the first stage, each subscriber will get a minimum of 10 shares. During the second stage, and in the event there is a sufficient demand by retail subscribers, each subscriber for 50 shares or less will get full allocation of what he applied for provided that total shares allocated do not exceed total shares offered to retail subscribers (162,464,286 shares). The balance of the Offer Shares (if available) will be allocated on a pro-rata basis.
The Company has appointed all local banks as receiving banks in order to facilitate the participation of all Saudi citizens in this Offering, as Mr. Gray mentioned.
Mr. Gray also said that the reason behind the delay in announcing the above information is the need to coordinate with the Japanese partner (Sumitomo Chemical) which is a publicly listed company in Japan that has certain disclosure requirements towards its shareholders and the regulators of the stock market in Japan.
Petro Rabigh, launched in September 2005 as a 50:50 joint venture between Saudi Aramco and Sumitomo Chemical, is one of the largest combined oil refinery and petrochemical production facility ever to be built at one time. Saudi Aramco will supply Petro Rabigh with the feedstock necessary to operate the plant, including ethane, on a long-term, fixed-price basis and will market the refined products produced by Petro Rabigh. Sumitomo Chemical will provide petrochemical international sales and marketing expertise, as well as technology licensing.
Petro Rabigh’s mission is to inspire its employees to ensure that it is the global leader in its industry. Through its strong ethics, human talent, best practices and diversified products, the company will meet the needs of its clients and add value for its partners, customers, shareholders, employees and communities. Petro Rabigh is committed to environmentally sustainable development.
25 December 2007
HSBC Saudi Arabia Limited has added two new local equity funds to its local equity fund family with the launch of the HSBC Saudi Equity Index Fund and the HSBC Petrochemical Equity Opportunities Fund.
The new funds, which capitalize on the company’s local capabilities and expertise, position HSBC Saudi Arabia Limited as the top provider of local equity funds in terms of diversity and number. And their launch brings the total number of mutual funds offered by HSBC Saudi Arabia to 30.
Both of the new investment funds are open-ended and both aim to achieve capital growth over the medium to long term.
The HSBC Saudi Equity Index Fund will invest in a portfolio of equities of selected companies listed on the Tadawul and corresponding to the constituents of the HSBC Saudi Equity Index. The HSBC Saudi Equity Index is comprised of about 37 stocks which are representative of the market capitalisation of the broad range of economic sectors in Saudi. The companies included reflect the breadth and depth of the Saudi stock market, from banks to bookstores, and from petrochemicals to publishing.
The HSBC Saudi Petrochemical Equity Opportunities Fund is a more specialized investment vehicle, investing in expanding petrochemical companies listed in the Saudi equity market.
Osama M Shaker, Head of Investments, commented: “This is an exciting move for us and for local and international investors in Saudi equity funds. The HSBC brand is a familiar and trusted one in Saudi Arabia and around the world but these are the first funds to be issued here under the banner of HSBC. This is an extremely exciting development for us and adds significantly to our existing offering of Saudi funds which have seen strong growth and increasing interest in recent years.”
Please click below for more information on the funds:
