UAE fuel retailer ADNOC Distribution's entry in MSCI Emerging Market Index is right exposure | Markets – Gulf News
The largest UAE fuel retailer ADNOC Distribution's inclusion in the MSCI Emerging Market Index could increase the attractiveness of its shares to potential overseas investors and further diversify the investor base. With $31.56 billion in assets, the company joins nine other UAE-listed companies that are part of the index with an estimated weightage of 0.04 per cent.
Asset management firms, foreign pension funds and sovereign wealth funds usually use indices such as the MSCI EM Index as part of their globe-spanning passive investment strategy. Adding ADNOC into that universe could attract significant foreign institutional interest.
ADNOC Distribution’s current market capitalization stands at Dh60.37 billion, and in the second-half of 2020, it successfully completed a private placement valued at $1 billion to institutional investors, increasing its free-floating equity to 20 per cent and contributing to improved liquidity of its shares.
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