Abu Dhabi - Mubasher: Al Yah Satellite Communications Company (Yahsat) will be included in the MSCI Small Cap Indices from 1 December 2021 after fulfilling the necessary listing requirements.
The MSCI Small Cap Indices include the MSCI All Country World Index (ACWI) Small Cap Index, MSCI Emerging Markets Small Cap Index, and the MSCI UAE Small Cap Index, according to a press release on Sunday.
This inclusion will encourage local and international retail and institutional investors to enter into long-term investments in Yahsat.
The Group CEO at Yahsat, Ali Al Hashemi, said: "Yahsat’s inclusion in three MSCI indices serves as a testament to the Group’s position as a local industrial champion and a key contributor to the development and diversification of the UAE economy."
Meanwhile, Al Hashemi added: "This achievement is a reflection of Yahsat’s proven operational and financial strength and underpins our ongoing commitment to generating shareholder value by investing in next generation technologies and expanding our geographical footprint."
It is noteworthy to mention that during the first nine months of 2021, the company's net profits decreased to $43.296 million, compared to $51.75 million in the same nine months of 2020.
