Mobile engagement software company Plexure has been added to the MSCI World Micro Cap Index, effective 26 November 2019.
The MSCI World Micro Cap Index operates across 23 Developed Markets countries and is typically adjusted biannually in May and November. With 5,753 constituents, the index covers approximately one percent of the free float-adjusted market capitalization in each country.
Chief Executive Craig Herbison says Plexure’s inclusion is a validation of how well the company is performing.
“We’re thrilled to be recognized on the MSCI Micro Cap Index as one of three Kiwi newcomers, alongside Vista Group and Napier Port Holdings. It’s a vote of confidence that our strategy and performance is being endorsed by the market.”
Since the beginning of 2019, Plexure’s market capitalization has increased by 284 percent and its share price is up 211 percent. The company’s recent strong interim results saw revenue grow by 45 percent to USD$7.6m. Cash at bank also increased 121 percent to USD$8.7m for the six months ending 30 September 2019.
Plexure’s growth has been bolstered by the USD$3.5m investment from McDonald’s in April, and a deal in July with US fast-food chain White Castle, which operates almost 400 restaurants across 13 states.