Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will join Morgan Stanley Capital International (MSCI) Emerging Markets Index with the effective date of 27 May 2021.
After meeting the necessary requirements, ADNOC Distribution will be among nine UAE-listed companies to be part of the MSCI Emerging Markets Index, according to a recent press release.
This step will enable the UAE’s largest fuel and convenience retailer to attract more potential international investors to its shares and diversify the investor base.
The Acting CEO of ADNOC Distribution, Ahmed Al Shamsi, said: "Being included on the MSCI Emerging Markets Index is an important milestone in ADNOC Distribution’s thriving equity narrative. The inclusion is a testament to the company’s ability to grow and a reflection of its solid performance and resilience since IPO."
It is noteworthy to mention that in the first quarter (Q1) of 2021, the company's net profits jumped by 57.9% to AED 631 million from AED 400 million in the year-ago period.