ABU DHABI, UAE: Al Yah Satellite Communications Company (Yahsat), UAE’s flagship satellite solutions provider is to be added to the FTSE UAE Small Cap Index, a news release said. Yahsat is listed on the Abu Dhabi Securities Exchange (ADX).
By virtue of being a constituent of the FTSE UAE Small Cap Index, Yahsat will also be added to the FTSE Global Small Cap Index, FTSE Global All Cap Index, FTSE Middle East & Africa Small Cap Index, FTSE Middle East & Africa All Cap Index among others.
Yahsat’s inclusion in the FTSE UAE Small Cap Index will be effective on 20 December 2021 and follows on from the company’s recent inclusion in three MSCI indices.
Ali Al Hashemi, Group Chief Executive Officer at Yahsat, said: “We are pleased that Yahsat is to be added to the FTSE UAE Small Cap Index following its first rebalancing exercise since our IPO.
It marks another important milestone in our commitment to deliver long-term value for our shareholders, while in parallel strengthening Abu Dhabi’s position as an attractive destination for investors.”
Last week, MSCI announced that it included Yahsat as a constituent of the MSCI Small Cap Indices, including the MSCI All Country World Index (ACWI) Small Cap Index, MSCI Emerging Markets Small Cap Index, and the MSCI UAE Small Cap Index.
FTSE index review changes may be subject to revision until close of business on 3 December 2021. However, any changes to those announced on 19 November 2021 will generally only be considered in exceptional circumstances.
Al Yah Satellite Communications Company PJSC (Yahsat) is a public company listed on the Abu Dhabi Securities Exchange (ADX) and a subsidiary of Mubadala Investment Company PJSC, offering multimission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Yahsat’s fleet of 5 satellites reaches more than 80% of the world’s population, enabling critical communications including broadband, broadcasting, backhauling and mobility solutions.
Based out of Abu Dhabi in the UAE, Yahsat provides C, Ku, Ka and L-band satellite communications solutions for land, maritime and aero platforms to consumers, governments and enterprises. Its businesses consist of Yahsat Government Solutions, Thuraya, YahClick (powered by Hughes) and YahLink.
Yahsat also participates in Hughes do Brasil, an equity partnership with Hughes, and Yahlive, an equity partnership with SES. In 2020, Yahsat commenced construction of Thuraya 4-NGS, the next generation telecommunications system for Thuraya, which is due to be in service during 2024.