#SaudiArabia's Sulaiman Al Habib Medical Group enters MSCI Global Standard Index | ZAWYA MENA Edition

Saudi Arabia's Sulaiman Al Habib Medical Group enters MSCI Global Standard Index | ZAWYA MENA Edition

Saudi Arabia’s largest private medical services provider, Dr. Sulaiman Al Habib Medical Group (HMG), will be included as a constituent of the MSCI Global Standard Index, effective 30 November 2020, according to the MSCI semi-annual Index Review.

MSCI is the world’s provider of research-based indexes that cover securities from different countries and across cap sizes. The indices are a benchmark in global equity markets and are constituent stocks are selected based on criteria including market capitalisation, liquidity, free float and performance.

Dr. Sulaiman Al Habib Medical Group operates hospitals, outpatient clinics, pharmacies and medical labs throughout the kingdom as well as in Dubai and Bahrain. The group raised $700.9 million (main market) by issuing 15 per cent of its shares in February.

Nasser Al Haqbani, CEO at HMG, said: "The inclusion of HMG in the MSCI Global Standard Index is a reflection of both the resonance and impact of our post-IPO growth strategy, which we have delivered in spite of market headwinds. Our business has proved highly agile in addressing the challenges of the global pandemic, and we are very pleased to have become a constituent of the globally recognised benchmark."