Alef Education, a UAE-based global leader in education technology, on Monday said that it has been added to the Morgan Stanley Capital International (MSCI) UAE Small Cap Index, a significant milestone achieved just five months after its Initial Public Offering (IPO).
The inclusion underscores the solid financial and operational performance of Alef Education and its promising growth prospects, the Abu Dhabi Securities Exchange (ADX)-listed company in a regulatory filing this morning.
MSCI confirmed the inclusion in its latest list of additions and deletions, with the change to take effect after the close of equity markets on 25 November 2024. The inclusion holds further significance as it comes more than a week after Alef Education announced robust financial results for the period ending 30 September 2024, the company said.
The company reported an 8% increase in adjusted profit before tax to $103.19 million, driven by a solid revenue base from long-term contracts and a focus on significant cost efficiencies across its operations.
Reflects Global Market’s Confidence
Alef Education CEO Geoffrey Alphonso said that the inclusion of his company in the MSCI UAE Small Cap Index reflected the global market’s confidence in their strong fundamentals and strategic vision. This achievement also emphasised their commitment to providing innovative education solutions and the company’s dedication to sustainable growth and value creation for its shareholders.
He added: “This milestone will allow Alef Education to diversify its investor base and make its solid financial foundation and high shareholder returns visible on the global financial market. We reaffirm our commitment to driving effective change and shaping the future of education through progressive, technology-driven approaches.”
MSCI is an investment research firm that provides stock indexes, portfolio risk and performance analytics, and governance tools to institutional investors and hedge funds.
The MSCI Index is a widely recognized benchmark for global equity markets. It provides investors with a comprehensive snapshot of stock market performance by tracking the performance of a specific set of stocks or sectors in various countries.
The MSCI UAE Small Cap Index is designed to measure the performance of the small-cap segment of the equity market. MSCI indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
When a stock is included in the MSCI Index, it will help the company in attracting more investments from global entities and individuals. If any company is removed from the index, it will typically leads to selling pressure and a decline in stock prices.
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