Abu Dhabi's Yahsat to join FTSE UAE Small Cap Index

Index inclusion to be effective next month 

  
An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose.

An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose.

REUTERS/Ben Job

Abu Dhabi’s Al Yah Satellite Communications Company (Yahsat), along with all its subsidiaries, will be included in the FTSE UAE Small Cap Index, the company announced on Sunday. 

With its inclusion in the index, Yahsat will also be added to the FTSE Global Small Cap Index, FTSE Global All Cap Index, FTSE Middle East & Africa Small Cap Index and the FTSE Middle East & Africa All Cap Index, among others, the Abu Dhabi Securities Exchange-listed company said in a bourse filing. 

Yahsat’s inclusion will be effective on December 20, 2021. 

Last week, MSCI announced that it had included Yahsat as a constituent of the MSCI Small Cap Indices, including the MSCI All Country World Index (ACWI) Small Cap Index, MSCI Emerging Markets Small Cap Index and the MSCI UAE Small Cap Index. 

The company began trading on the ADX in July following its initial public offering (IPO). 

It recently announced a profit of $13.2 million for the third quarter of 2021, down by 37.8 percent from $21.2 million in the same period in 2020. 

(Writing by Brinda Darasha; editing by Cleofe Maceda)  

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© ZAWYA 2021


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