The launch marks the first ETF dedicated to
investing in the Saudi Arabian stock market listed on the
Tokyo Stock Exchange.
DUBAI, UAE, Nov. 4, 2024
/PRNewswire/ -- GTN and SBI Holdings announced on October 30 at FII 8th Edition 2024 in
Riyadh the launch of the "SBI
Saudi Arabia Equity Exchange Traded Fund (ETF)"- a groundbreaking
ETF dedicated to investing in the Saudi Arabian stock market and
listed on the Tokyo Stock Exchange. This fund marks a significant
milestone as it represents the first ETF focusing exclusively on
Saudi equities to be accessible to Japanese investors.
The collaboration between GTN and SBI Group stems from a
Memorandum of Understanding (MOU) signed in May 2024 in Tokyo at the Saudi Japan
Vision 2030 Event in the presence of H.E. Eng.
Khalid bin Abdulaziz Al-Falih, the
Minister of Investment.
Inspired by Vision 2030, the ETF is expected to reflect the
performance of the Saudi market and attract Japanese investors due
to Saudi Arabia's significant
economic transformation, sustainable growth, and advanced financial
infrastructure. The ETF will be managed to achieve investment
results linked to the "MSCI Saudi Arabia Index (yen equivalent
basis)". SBI Asset Management received the regulator's approval,
and the ETF was successfully listed on the Tokyo Stock Exchange on
October 31, 2024.
As per the MOU signed between the parties, SBI Asset Management
will be responsible for creating, managing and promoting the ETF in
Japan, while GTN will provide
research, execution, clearing and settlement services to the
ETF.
SBI Group is a strategic investor of GTN and a key partner in
GTN's expansion plans in Asia.
The Chairman of GTN and its mother company NTG, Mohammed Rashid Al Ballaa said: "We are excited
about the collaboration between SBI Group and GTN to launch the
first-ever Saudi-focused ETF in Japan. SBI Group has access to over 10 million
customers and is ideally suited to promote an ETF linked to the
Saudi market in Japan. This
milestone was achieved thanks to Mr. Yoshitaka Kitao, the visionary leader and
founder of SBI Group." "The ongoing support of the Saudi Stock
Exchange and the Ministry of Investment in Saudi Arabia were also essential success
factors in reaching this milestone," said Mr. Al
Ballaa.
At the FII conference in Riyadh, Mr. Yoshitaka
Kitao said: "I am excited to be in the Kingdom and see the
development that has taken place over the past few years. I am also
excited to see the unfolding of the Vision 2030. I am confident
that the Saudi Arabia ETF will provide Japanese investors the
opportunity to participate and be part of the growth journey of
Saudi Arabia."
About GTN
GTN is a fintech pioneer with decades of success, holding
broker-dealer and capital markets services licenses in multiple
jurisdictions through subsidiaries. We are committed to empowering
brokers, banks, asset managers, and fintechs with scalable and
innovative investment and trading solutions that enable access to a
comprehensive network of global markets and multiple asset classes,
making investment and trading accessible to all.
GTN brings together a diverse team of over 500 talented
individuals spread across Brazil,
Hong Kong, Saudi Arabia, Singapore, South
Africa, Sri Lanka, the UAE,
the UK, and the US, united by a shared passion and purpose:
empowering clients and transforming the accessibility to investment
and trading opportunities for all.
GTN is backed by strategic investors IFC, a member of the World
Bank Group, and SBI Group, one of the largest financial services
firms listed on the Tokyo Stock Exchange. To learn more, visit
www.gtngroup.com or follow us on LinkedIn.
About SBI Group
Over 25 years of successful track record, SBI Group has become
one of the largest FinTech companies in Japan. Listed on the Tokyo Stock Exchange, the
SBI Group has over 19,000 employees and 685 group companies. SBI
Group's main businesses are financial services, asset management,
investment business, Crypto-assets and Next Gen
businesses such as biotechnology, healthcare and Web3.
SBI Group companies include SBI Securities, Japan's number one online securities company,
SBI Sumishin Net Bank, Japan's
largest internet bank in terms of deposit amount, and a variety of
other financial companies.
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SOURCE GTN