Multiply Group, a technology-focused investment holding company, has been included in Abu Dhabi Securities Exchange’s (ADX) new benchmark index, the FTSE ADX 15 Index (FADX 15).
The benchmark, which was launched on Wednesday, includes the largest and most liquid 15 companies on the ADX.
Developed by the ADX, the Arab world's second-largest stock market by market value, and FTSE Russell, the FADX 15 is a blue chip benchmark that aims to support the bourse’s recently launched derivatives market and the creation of exchange traded funds and other index-tracking investment vehicles.
The Abu Dhabi bourse is the first exchange in the region to use FTSE Russell as its index administrator and is part of a strategy launched last year to attract more foreign investors and to enhance its liquidity. The partners are developing and launching new indexes to support ADX’s growth.
Multiply Group's inclusion comes as it embarks on an acquisition spree after its listing on the ADX in December.
The company, a subsidiary of International Holding Company, acquired stakes in Emirates Driving Company, Omorfia Group, Viola Communications, Firefly and Yieldmo in 2021. It has continued its deal-making this year, with investments in Getty Images and celebrity Rihanna's intimate apparel brand Savage X Fenty.
Last week, it said it would invest Dh367 million ($100m) in the Dubai Electricity and Water Authority's initial public offering as a cornerstone investor.
Multiply Group reported a huge jump in its 2021 net profit on the back of higher revenue.
Net profit attributable to owners of the company for the full year climbed to about Dh185m, from nearly Dh3.8m a year earlier. Revenue during the period surged to Dh372m, compared to Dh15.7m in 2020.
The company's UAE-based assets, including PAL Cooling, Emirates Driving Company, Viola Communications and Omorfia Group, which comprises Tips&Toes and Bedashing Beauty Lounges, are producing steady income streams, its chief executive Samia Bouazza said last month.
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
The specs
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
