Multiply Group added to FTSE Global Equity Index Series

Multiply Group, a technology-focused holding company based in Abu Dhabi, has been added to the FTSE Global Equity Index Series (GEIS) Mid Cap Index in its June quarterly review. The inclusion comes into effect on June 20, 2022.

FTSE GEIS is part of the FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. The FTSE GEIS provides a robust global equity index framework and includes over 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets globally, with a wide range of modular indexes available to target specific markets and market segments.

“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. It will further boost our visibility, add to shareholder diversity and enhance Abu Dhabi Securities Exchange’s position as one of the top markets globally,” Samia Bouazza, CEO and Managing Director at Multiply Group, said.

In March of this year, Multiply Group was added to the newly designed FTSE ADX 15 (FADX15) — the first index co-developed under the FTSE ADX partnership that brings FTSE Russell’s world-class index expertise to the GCC. The FADX15 is a sub-index of the FTSE ADX General Index and represents the top 15 companies on the Main Board of the ADX, selected by a combination of free float adjusted market capitalisation and median daily trading value.

The last 12 months has seen the Group make investments of Dh367 million ($100m) and Dh183.75 million ($50m) in Dewa and Borouge as cornerstone investors in their respective IPO, alongside digital and ecommerce platforms with substantial earning potential and international high growth firms, including US vehicle-focused digital media platform Firefly, global visual content firm Getty Images, Rihanna’s direct-to-consumer e-commerce fashion firm Savage X Fenty. Other major investments also comprise PAL Cooling Holding, Emirates Driving Company, and Viola Communications.

Multiply recently posted its first quarter 2022 financial results, achieving a net profit of Dh334.9 million. The group’s strategy is to pursue profitable growth through a diversified portfolio striking a balance between steady companies that generate recurring income and high-growth businesses.

— muzaffarrizvi@khaleejtimes.com