The Index is a broad market capitalization-based index which is designed to measure the performance of securities listed on the TSX Venture Exchange, Canada’s public venture capital marketplace.
Inclusion in the S&P/TSX Venture Composite provides Fobi with the potential to widen its investor base by opening it up to index funds and similar types of investment instruments.
Rob Anson, CEO of Fobi AI stated “The addition of Fobi to the Index is another great milestone for the Company and its shareholders. In a year that has challenged the world’s biggest companies, this serves as great validation of the hard work and careful planning we have put into both the operations and capital markets side of Fobi to deliver outstanding relative success versus all of our peers. From a practical point of view, portfolio managers will now need to add the index weighted amount of shares of Fobi in their portfolios – and continue to add shares to maintain weighting as their assets under management grow – which should benefit the liquidity of our stock for the foreseeable future. Congratulations to all of our loyal shareholders for their belief in Fobi. The best is yet to come.”
The S&P/TSX Venture Composite Index is maintained by the S&P/TSX Canadian Index Committee, which is composed of four members representing S&P Indices and three members representing the Toronto Stock Exchange. Fobi was notified of its addition to the Index by the TSX Venture Exchange as of October 24th, 2022.
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Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.