36.5 C
Sunday, September 24, 2023

American restaurants included in MSCI UAE index


Americana Restaurants International, the largest outdoor dining and quick service operator in the Middle East and North Africa (Mena) and Kazakhstan, is included in the MSCI UAE Index. The index is widely regarded as an important benchmark for investors to make investment decisions in emerging markets, including regional markets in the Middle East.

The MSCI UAE Index is a component of the MSCI EEMEA Index and is designed to measure the performance of the large and midcap stocks in the UAE equity market. Index inclusion generally supports increased liquidity in a company’s shares and helps attract more regional and global institutional and index-tracking investors, including those focused on emerging market equities.

A constituent of the MSCI UAE Index, Americana Restaurants is now also a constituent of the All Regional and Aggregate MSCI Equity Indexes that include the UAE. These indices include the MSCI Emerging Markets Index, the MSCI Emerging Markets Investable Market Index (IMI) and the MSCI All Country World Index (ACWI), the provider’s flagship global equity index designed to represent the full range of opportunities in large and mid-cap stocks The performance of the set is capped for 23 developed market and 24 emerging market stocks.

dual listing

Americana Restaurants is included in these indices following its historic simultaneous listing on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange (Tadawul), raising gross proceeds of US$1.8 billion. As the region’s first simultaneous dual listing, the offering generated strong local and international investor demand, resulting in a total oversubscription level of 58 times.

Meeting the requisite market capitalization, free-float-adjusted market capitalization and liquidity requirement criteria less than six months after listing clearly demonstrates Americana Restaurants’ strong performance and unique value proposition that has attracted institutional investors globally resonance.

Americana Restaurants is pursuing an ambitious long-term growth strategy built around restaurant portfolio growth, technological innovation and delivering memorable dining experiences to millions of people in the 12 countries in which it operates.

All changes to the MSCI EEMEA Index (of which the MSCI UAE Index is a core constituent) will be effective on 1 June 2023. — trade arab news agency


Source link

Related Articles

Airline warns shutdown; Indian aviation won’t intervene

India's aviation authorities have declined to intervene in the ongoing dispute between Akasa Air and its pilots. Over 40 of Akasa's 450 pilots resigned...

Former UK PM David Cameron at Port City Colombo UAE Roadshow

Port City Colombo to hold UAE Roadshow for global investors. Former UK PM David Cameron will discuss ties between the UAE, Indo-Pacific, and Sri...

“Game of Thrones” creator and authors sue OpenAI for copyright violation

John Grisham, Jodi Picoult, and George R.R. Martin, along with 14 other authors, are suing OpenAI for what they claim is "systematic theft on...

Watch: Dubai real estate agents queue for Palm Jebel Ali villa sales

Dubai's newest waterfront project, Palm Jebel Ali, has caused a significant stir. Hundreds of real estate agents and potential buyers formed long lines outside...

Indian rupee nears historic lows, faces more pressure.

The Indian rupee, near a record low, faces ongoing pressure due to factors like crude oil prices and the US Federal Reserve's policy decision....

Latest Articles