Alef Education, a UAE-based global leader in education technology, has been added to the MSCI UAE Small Cap Index, a significant milestone achieved just five months after its IPO. The inclusion underscores the solid financial and operational performance of Alef Education and its promising growth prospects.
MSCI confirmed the inclusion in its latest list of additions and deletions, with the change to take effect after the close of equity markets on 25 November 2024. The inclusion holds further significance as it comes more than a week after Alef Education announced robust financial results for the period ending 30 September 2024. The company reported an 8% increase in adjusted profit before tax to AED 379 million, driven by a solid revenue base from long-term contracts and a focus on significant cost efficiencies across its operations.
Geoffrey Alphonso, CEO of Alef Education, said, “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. At Alef Education, we reaffirm our commitment to driving effective change and shaping the future of education through progressive, technology-driven approaches.
Morgan Stanley Capital International (MSCI) is an investment research firm that provides stock indexes, portfolio risk and performance analytics, and governance tools to institutional investors and hedge funds. The MSCI UAE Small Cap Index is designed to measure the performance of the small-cap segment of the equity market. MSCI indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
