Mizuho launches and lists exchange traded fund (ETF) in Japan investing in Saudi Arabian equity market with PIF as an anchor investor
Mizuho Financial Group, Inc. announces that One ETF FTSE Saudi Arabia Index, an ETF established and managed by its subsidiary Asset Management One Co., Ltd. – and investing in the Saudi Arabian equity market – was listed on the Tokyo Stock Exchange (TSE) today.
PIF and Mizuho Bank are anchor investors in One ETF FTSE Saudi Arabia Index. The initial market capitalization of the ETF exceeded 15 billion yen ($100 million), making it the largest ETF investing solely on the Saudi Arabian equity market on TSE1.
Through the ETF, Mizuho provides investors with access to one of the world's fastest growing markets and contributes to the development of Saudi and global capital markets.
The launch and listing of the ETF is a significant achievement in enabling greater access to Saudi Arabia's diversified equity market. The ETF further solidifies the growing relationship between PIF and Japanese investors, driving cross-border opportunities, foreign direct investment, and bridging Japan and Saudi Arabia's capital markets.
Noriyuki Sato, Senior Executive Officer and Head of the Asset Management Company at Mizuho said: “The Saudi financial market has undergone a Classification: External Confidential significant transformation and experienced rapid growth. We are very excited to provide an investment product investing in this attractive market through the partnership with PIF and the listing of the One ETF FTSE Saudi Arabia Index. Mizuho will contribute to both individual asset growth in Japan and connectivity between Japan and the Saudi capital market.”
Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: “Tokyo is a top-ranked global financial center and represents a significant opportunity in PIF's strategy to open gateways and enable access to Saudi Arabia's dynamic capital market. Our partnership with Mizuho and the launch of One ETF FTSE Saudi Arabia Index
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