Abu Dhabi-based education provider Alef Education has been added to the MSCI (Morgan Stanley Capital International) UAE Small Cap Index.
The inclusion comes within six months of the company’s successful IPO and its subsequent listing on the Abu Dhabi Securities Exchange (ADX) on 12th June.
It underscores the solid financial and operational performance of the company and its promising growth prospects and comes more than a week after it announced healthy financial results for the period ending 30 September 2024. The company reported an 8 per cent increase in adjusted profit before tax to AED379 million ($103.2 million), driven by a solid revenue base from long-term contracts and a focus on significant cost efficiencies across its operations.
MSCI confirmed the inclusion in its latest list of additions and deletions, which took effect after the close of equity markets on 25 November.
Geoffrey Alphonso, CEO of Alef Education, commented: “We are delighted to be included in the MSCI UAE Small Cap Index as it reflects the global market’s confidence in our strong fundamentals and strategic vision. This achievement emphasises our commitment to providing innovative education solutions and our dedication to sustainable growth and value creation for our shareholders.
“This milestone will allow Alef Education to diversify its investor base and make its solid financial foundation and high shareholder returns visible on the global financial market.”
Founded in 2016, Alef Education is an award-winning AI-powered learning solutions provider for K-12 students. The company operates in approximately 7,000 schools across the UAE, the US, Indonesia and Morocco. Its flagship AI-integrated Alef Platform offers personalised learning experiences to more than 1.1 million registered students, enabling them to work at their own pace and reach their full potential anytime, anywhere.
MSCI is an investment research firm that provides stock indexes, portfolio risk and performance analytics, and governance tools to institutional investors and hedge funds. MSCI indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
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