Saudi Aramco's weight to rise in December review: FTSE Russell

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Arabian Oil Co.'s (Saudi Aramco) weight in the FTSE Russell Global Equity Index will increase from 1.85% to 2.38% during the December 2024 periodic review, which will be effective as of Dec. 23, 2024, FTSE Russell said in a statement.

The decision comes after the company’s disclosure on June 9, 2024, which was in line with the FTSE Russell Index Policy for Free Float Restrictions.

The following table shows the current weight of Saudi Aramco in the FTSE Russell indices as of Oct. 31, 2024, closing, and the expected new weight based on the weight increase to 2.38%:

According to data available on Argaam, the Saudi government and Saudi Aramco announced last June the closing of the secondary public offering.

The government sold 1.545 billion shares of the oil giant, representing nearly 0.64% of Aramco’s issued shares.

Saudi Aramco detailed the company’s post-allocation shareholding, as follows: