Saudi Arabia’s $925 billion Riyadh-based sovereign wealth fund, Public Investment Fund, will invest alongside Mizuho Bank as anchor investors in the One ETF FTSE Saudi Arabia Index, according to a news release.
The ETF has been listed on the Tokyo Stock Exchange. The initial market capitalization of the ETF exceeded 15 billion yen ($97 million), making it the largest ETF listed on the TSE investing solely in the Saudi Arabian equity market.
Yazeed Al-Humied, deputy governor and head of Middle East and North Africa investments at PIF, said in a news release: “Tokyo is a top-ranked global financial center and represents a significant opportunity in PIF’s strategy to open gateways.”
The ETF is intended to develop the relationship between PIF and Japanese investors, driving cross-border opportunities, foreign direct investment, and bridging Japan and Saudi Arabia’s capital markets.
