Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE-listed companies have recorded notable gains in the latest FTSE Russell semi-annual index review for the Middle East and Africa, strengthening the representation of Abu Dhabi and Dubai markets in global benchmarks.
The standout move came from ADNOC Gas, which has been promoted to the Large Cap index after previously falling short of free-float requirements. The free float of the company has increased to 9% from 5% after it offered 3.1 billion shares, constituting 4% of total ownership to institutional investors.
ADNOC, the main shareholder, has realised Dh10.4 billion in cash from this share sale. Listed on ADX in March 2023 via a $50 billion IPO, ADNOC Gas is the UAE’s largest integrated gas processor supplying LNG and industrial gases, and now commands a market capitalisation of around Dh257 billion ($70 billion).
In the Mid Cap category, Presight AI Holding, the data analytics subsidiary of G42, was added to the index after surpassing investable market-cap thresholds. Presight floated on ADX in March 2023, raising nearly Dh1.82 billion ($496 million) in an oversubscribed IPO, and delivers advanced AI-driven data solutions across public services, finance, and sports. Its market capitalisation is around Dh18.7 billion, according to the latest ADX data.
A wave of UAE companies also entered the Micro Cap category. Al Seer Marine Supplies and Equipment, a maritime services and yachts operator, shifted from Small Cap to Micro Cap and now carries a market cap of about Dh3.5 billion. Its majority shareholder is International Holding Company (IHC).
Alpha Data, a digital transformation and cybersecurity firm, joined the Micro Cap list following its 2025 listing on ADX and now has a market value of approximately Dh1.73 billion.
E7 Group, a diversified holding involved in commercial services, made it to FTSE Micro Cap index after meeting the liquidity requirements. The IHC company listed on ADX has a market cap of nearly Dh2.3 billion.
Finally, Spinneys 1961 Holding, the supermarket chain behind Spinneys, Waitrose and Al Fair, entered the Micro Cap category after improving its gross market capitalisation. The company listed on the Dubai Financial Market (DFM) in May 2024 following its IPO, which valued it at about Dh5.5 billion. It now trades with a market capitalisation of around Dh5.7 billion.
These inclusions mark a significant step in enhancing the UAE’s weight within the FTSE Russell framework—a move expected to attract passive investment flows and bolster global investor interest.
The biggest setback was for Burjeel Holdings, a leading healthcare group listed on the ADX. It was removed from the Mid Cap category after it fell below the “investable market-cap threshold”.
