Yahsat to be added to the FTSE UAE Small Cap Index

Yahsat’s inclusion in the FTSE UAE Small Cap Index will be effective on December 20, 2021 and follows on from the company’s recent inclusion in three MSCI indices

By Staff Report

Published: Sun 21 Nov 2021, 7:09 PM

Al Yah Satellite Communications Company (Yahsat), on Sunday announced that it is to be added to the FTSE UAE Small Cap Index.

By virtue of being a constituent of the FTSE UAE Small Cap 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, FTSE Middle East & Africa All Cap Index among others.

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Yahsat’s inclusion in the FTSE UAE Small Cap Index will be effective on December 20, 2021 and follows on from the company’s recent inclusion in three MSCI indices. The move will further underpins Yahsat’s solid growth potential as well as robust financial and operational performance.

Ali Al Hashemi, group chief executive officer at Yahsat, said: “We are pleased that Yahsat is to be added to the FTSE UAE Small Cap Index following its first rebalancing exercise since our IPO. It marks another important milestone in our commitment to deliver long-term value for our shareholders, while in parallel strengthening Abu Dhabi’s position as an attractive destination for investors.”

Last week, MSCI announced that it 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.

FTSE index review changes may be subject to revision until close of business on 3 December 2021. However, any changes to those announced on 19 November 2021 will generally only be considered in exceptional circumstances.

— muzaffarrizvi@khaleejtimes.com