Multiply Group, an Abu Dhabi 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 review will be effective from June 20, the company said on Monday.
Inclusion into the FTSE Global Equity Index indicates a company's strength and could push Multiply's stock price higher.
The company had a market value of about Dh21.7 billion ($5.9bn) on Monday morning. Its share price is up about 5 per cent since the start of this year and is currently trading at about Dh1.94.
“Joining the FTSE Global Equity Index Series within six months from the listing on the ADX marks an important milestone for us,” said Samia Bouazza, chief executive and managing director at Multiply Group.
“The inclusion highlights our business performance and positive engagement with the investor community. It will further boost our visibility, add to shareholder diversity and enhance [the] Abu Dhabi Securities Exchange’s position as one of the top markets globally.”
FTSE GEIS is a part of FTSE Russell and provides benchmarking, analytics and data solutions to investors globally.
The FTSE GEIS is a global equity index framework that includes more than 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets. It has a wide range of indexes available for investors, allowing them to focus on specific markets and market segments.
In March, Multiply Group was added to the newly designed 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 Abu Dhabi bourse.
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 bourse’s recently launched derivatives market and the creation of exchange traded funds and other index-tracking investment vehicles.
The addition of Multiply Group, which listed on the ADX in December, to the FADX 15 and the FTSE GEIS Mid Cap Index comes at a time when the company is continuing its investment spree.
In the past 12 months, the company invested Dh367 million as a cornerstone investor in the listing of the Dubai Water and Electricity Authority.
It also invested Dh183.7m in the initial public offering of Borouge, the biggest listing on the ADX, as an anchor investor.
Joining the FTSE Global Equity Index Series within six months from the listing on the ADX marks an important milestone for us
Samia Bouazza,
chief executive and managing director of the Multiply Group
It has also taken stake in digital and e-commerce platforms with substantial earning potential, including US vehicle-focused digital media platform Firefly, global visual content company Getty Images and Rihanna's direct-to-consumer e-commerce fashion company 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, swung to profit in the first quarter of the year as revenue surged.
Net profit, attributable to the owners of the company, reached Dh290.5m in the three months to the end of March, compared with a loss of Dh889,000 in the same period last year, the company said in a bourse filing in April.
Revenue for the reporting period reached Dh241.2m, about Dh237.6m more than in the same period in 2021.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
