The Saudi stock exchange Tadawul has introduced a 15-percent cap on any stock’s weight in its equity index to avoid Aramco overweighting the index when it lists later this month. Reuters quoted a statement by the exchange as saying, “Any constituent whose index weight reaches or exceeds the threshold will be capped in accordance with the set limit.” The cap will “ensure more balanced indices, which will accurately represent the movement of the market, enhance disclosures and transparency and minimize securities’ dominance,” the statement also said. Aramco will list 1.5 percent of its shares this week, targeting local investors, both large and retail. The company has yet to announce the price, which it said will happen when it announces the listing. For now, the oil giant has only announced a range, of between 30-32 riyals, ($8-8.52). Taking the mean of this range, Aramco’s value is around $1.7 trillion and […]