Three companies bolster UAE presence on MSCI emerging markets index
UAE companies Adnoc Gas, Salik and Dewa are among new entities set to be included in the MSCI Emerging Markets Index next month, in a move that is expected to help them broaden their investor base. The additions will take effect after markets close on Friday, May 30, MSCI said on Tuesday. MSCI's Emerging Markets Index is tracked by investors managing trillions of dollars in assets. The benchmark is designed to measure the performance of large and mid-cap stocks across 24 emerging markets and has more than 1,320 constituents. Index inclusion usually supports increased liquidity for a company's shares and can help to attract more regional and global institutional investors. Along with Adnoc Gas, Dubai toll operator Salik and the Dubai Electricity and Water Authority were among the 30 new additions globally to the MSCI index. Adnoc Gas is the third Adnoc company to be admitted to the index, after the inclusion of Adnoc Distribution and Adnoc Drilling. Other UAE companies that are already part of the index include First Abu Dhabi Bank, Emaar Properties, e&, Emirates NBD, Aldar Properties and Abu Dhabi Commercial Bank. The inclusion will help Adnoc Gas to "improve passive cash inflows by between $300 million to $500 million and facilitate a more diversified investor base", the company said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded. 'The recent $2.84 billion marketed offering, which increased the company's free float by 80 per cent, has already led to a six-fold rise in average daily trading volume, and we are confident that our continued strategic focus on growth will deliver further value for shareholders through 2025 and beyond,' said Fatema Al Nuaimi, chief executive at Adnoc Gas. Adnoc Gas, which operates across the gas value chain, from processing to the sale of products to domestic and international customers, has customers in more than 20 countries. It meets about 60 per cent of the UAE's gas needs. The company, which reported a 7 per cent year-on-year increase in net income for the first quarter of 2025, aims to invest $15 billion in attractive opportunities from 2025 to 2029, it said. Meanwhile, Salik said its inclusion in the index follows the execution of its updated strategy since its implementation last year, enabling it to meet the necessary market capitalisation, free float-adjusted market capitalisation and liquidity requirements. 'MSCI's UAE Index offers global investors ease of access and a compelling opportunity to capitalise on the UAE's thriving equity market," said Ibrahim Al Haddad, chief executive of Salik. The company's net profit for the first quarter increased 33.7 per cent year-on-year to Dh370.6 million ($100.91 million), while revenue also rose 33.7 per cent to Dh751.6 million. In the first three months of 2025, the toll operator said it recorded 210.8 million trips, up 35 per cent annually, as the number of vehicles on the roads in Dubai also rose. It has launched two new toll gates in Dubai, taking the total number to 10 and introduced dynamic pricing, which is expected to drive additional revenue for the business, Salik said on Wednesday. "Alongside core tolling, Salik is expanding ancillary revenue streams including parking solution partnerships with Emaar Malls and Parkonic, and a first-of-its-kind insurance partnership with Liva," it added. Dewa's inclusion in the index "reinforces our growing relevance on the global investment stage", Saeed Al Tayer, vice chairman, managing director and chief executive of Dewa, said. Dewa, the largest listed company on the Dubai Financial Market with a market capitalisation exceeding Dh130 billion, reported a 23 per cent drop in annual profit for the first quarter to Dh497.8 million, despite posting a 3 per cent rise in revenue. "As a new constituent, Dewa is expected to benefit from increased visibility, enhanced trading liquidity and passive inflows from index-linked investment products," the utility said.
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