Summit Ascent Holdings has been selected for inclusion as a constituent stock of the MSCI Hong Kong Micro Cap Index.
Compiled by research-based indexes and analytics provider MSCI, the MSCI Hong Kong Micro Cap Index measures the performance of the small cap segment of the Hong Kong market.
In an announcement issued Wednesday, Summit Ascent – majority owner of Russian integrated resort Tigre de Cristal – said its inclusion, as of 27 May 2021, enhances the company’s reputation among institutional investors in the gaming sector. The Index, it added, is one of the most widely used equity benchmarks among institutional investors to measure portfolio performances.
Summit Ascent was admitted following a screening process that took into account factors such as market capitalization size, liquidity screening, a foreign inclusion factor requirement and minimum length of trading requirement.
“I cannot be more thrilled to see Summit Ascent included in the MSCI Index,” said Deputy Chairman and Executive Director of Summit Ascent, Andrew Lo.
“It is not only a recognition from the capital market, but it is also an accreditation to the Group’s development strategy.
“By being in the index, institutional investors could have an additional peace of mind that the company is growing in the right direction. Summit Ascent is undoubtedly a growth company that is worth the wait, as it will be equipped with Suncity’s most valuable resources to fire up its developments.”
Summit Ascent, which is 69.66& owned by Suncity Group, currently holds a 77.5% stake in Tigre de Cristal operator Regent Orient Ltd.
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