Multiply Group, a technology-focused holding company based in Abu Dhabi, has been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index in its June quarterly review. The inclusion comes into effect on Monday 20 June 2022.
In March of this year, Multiply Group was added to the FTSE ADX 15, a sub-index of the FTSE ADX General Index. Multiply Group posted a Q1 net profit of 334.9 million dirhams ($91 million).
The CEO and Managing Director of Multiply Group, Samia Bouazza, said: “Joining the FTSE Global Equity Index Series within six months from the listing on the ADX marks an important milestone for us. The inclusion highlights our business performance and positive engagement with the investor community.”
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 was 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.
It has also taken a 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.
