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Multiply Group, an Abu Dhabi-based technology-focused investment holding company, has been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index.
The inclusion announced by FTSE Russell in its June quarterly report will be effective from June 20, the company announced on Monday.
Inclusion in the FTSE Global Equity Index indicates a company’s strength and could boost Multiply’s share price.
The company had a market value of around 21.7 billion dirhams ($5.9 billion) as of Monday morning. Its share price has risen around 5% since the start of this year and is currently trading at around Dh1.94.
“Joining the FTSE Global Equity Index Series within six months of ADX listing marks a significant milestone for us,” said Samia Bouazza, Managing Director and Managing Director of Multiply Group.
“The inclusion highlights our business performance and positive engagement with the investment community. It will further enhance our visibility, add to the diversity of shareholding and enhance [the] The position of the Abu Dhabi Stock Exchange as one of the world’s leading markets.
FTSE GEIS is part of FTSE Russell and provides benchmarking, analytics and data solutions to investors worldwide.
The FTSE GEIS is a framework of global equity indices that includes over 16,000 large, mid, small and micro-cap stocks across 48 developed and emerging markets. It has a wide range of indices available to investors, allowing them to focus on specific markets and market segments.
In March, Multiply Group was added to the new FTSE ADX 15 Index. The FADX 15 is a sub-index of the main benchmark FTSE ADX General Index and represents the 15 largest and most liquid companies trading on the stock exchange. from Abu Dhabi.
Developed by the ADX, the Arab world’s second-largest stock market by market value, and FTSE Russell, the FADX 15 aims to support the exchange’s recently launched derivatives market and the creation of exchange-traded funds and other vehicles index investing.
The addition of Multiply Group, which was listed on the ADX in December, the FADX 15 and the FTSE GEIS Mid Cap Index comes at a time when the company continues its investment frenzy.
Over the past 12 months, the company has invested 367 million dirhams as a lead investor in the Dubai Water and Electricity Authority listing.
He also invested 183.7 million dirhams in Borouge’s IPO, the largest listing on the ADX, as lead investor.
Joining the FTSE Global Equity Index Series within six months of ADX listing is an important milestone for us.
Samia Bouazza, Managing Director and Managing Director of Multiply Group
He has also taken stakes in digital and e-commerce platforms with substantial earning potential, including US digital media platform Firefly, global visual content company Getty Images and e-commerce fashion company Direct. to Rihanna consumers, Savage X Fenty.
The company’s other major investments include stakes in PAL Cooling, Emirates Driving Company and Viola Communications.
Multiply Group, a subsidiary of Abu Dhabi-based International Holding Company, posted profits in the first quarter of the year as revenues rose.
Net profit, attributable to the company’s owners, reached Dh290.5 million in the three months to the end of March, compared to a loss of Dh889,000 in the same period last year, the company said in a statement. communicated. IPO in April.
Revenues for the reporting period reached Dh241.2 million, approximately Dh237.6 million higher than the same period in 2021.
Updated: June 06, 2022, 07:51
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