UAE's Bank of Sharjah and Apex Investment added to MSCI Global Small Cap Index
The inclusion will take effect after the market closes on 30 May.
The MSCI Global Small Cap Index is tracked by major institutional investors and global investment funds, with trillions of dollars in assets benchmarked against MSCI's suite of indexes. Inclusion typically signals strong market performance, sound governance, and growing investor confidence.
MSCI also announced that Dubai Electricity and Water Authority (DEWA), ADNOC Gas and Salik were selected for inclusion in the MSCI Emerging Markets Index.
There will be 147 additions to and 201 deletions from the MSCI Small Cap Index. The new review also resulted in five additions in Saudi Arabia (Almoosa Health, Arabian Drilling, Knowledge Economic City, Nice One Beauty Digital Marketing and United International Holding), and three deletions (Al Jouf Agricultural Development, Herfy Food Services and Sinad Holding Company).
Bank of Sharjah achieves milestone
The inclusion marks a significant milestone in Bank of Sharjah's journey, reinforcing its position as a high-performing and transparent financial institution in the region.
Mohamed Khadiri, Chief Executive Officer of Bank of Sharjah, commented: 'Joining the MSCI Global Small Cap Index is a proud and defining moment for Bank of Sharjah. It validates the strength of our fundamentals, the success of our strategic transformation, and the confidence the market places in us.'
'This inclusion enhances our international visibility, strengthens our appeal to global investors, and is expected to drive increased liquidity and shareholder value. Most importantly, it opens the door to a wider investment community that shares our long-term vision for sustainable growth.'
The Abu Dhabi-headquartered APEX Investment is a diversified investment holding company, with investment across sectors including commercial catering, facilities management, contracting and auxiliary business, investments, tech and big data, among others.
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