Middle East Business: Dana Gas included in blue chip FTSE ADX 15 Index – Gulf Digital News

Middle East Business: Dana Gas included in blue chip FTSE ADX 15 Index – Gulf Digital News

Dana Gas, the Middle East’s largest regional private sector natural gas firm, has been included in the FTSE ADX 15 Index (FADX 15), the Abu Dhabi Securities Exchange (ADX)’s new blue chip equity index.

The FADX 15 comprises the 15 most liquid companies on the ADX, chosen on the basis of free float adjusted market capitalisation and median trading value.

The index is the first in a series of indices jointly created by ADX and FTSE Russell to promote the creation of index-tracking investment vehicles on the Abu Dhabi bourse.

Shares shoot up 48% in 2021

Dana Gas’s shares rose last year to their highest level since 2009, advancing by 48% in 2021 and 11% in Q1 2022. The FTSE ADX General Index, a broad measure of Abu Dhabi listed companies, increased 64% in 2021 amid increased demand for Abu Dhabi listed companies, making it one of the best performing equity indices globally.

Dr Patrick Allman-Ward, Dana Gas’s CEO, said: “The inclusion of Dana Gas in the FADX 15, an index of the most investable stocks on the Abu Dhabi exchange, is a reflection of the big strides the company has made over the past two years.

“In 2021, the company delivered its strongest financial performance