Society Pass Incorporated, the leading Southeast Asian data-driven loyalty platform, today, announced that the company has been added to the Russell 2000 Index, effective at the open of U.S. markets on December 20, 2021, and according to the preliminary list of IPO additions to the Russell indexes.
Founder, Chairman and Chief Executive Officer of Society Pass, Dennis Nguyen said “Building on the momentum of our successful IPO, the inclusion of Society Pass to these highly regarded and widely used indexes will increase the visibility of our stock to the wider global investment community and attract new classes of investors to our register.”
Membership in the Russell 2000 Index, which remains in place until the next reconstitution, is based on membership in the broad-market Russell 3000 Index. The Russell US Indexes are commonly used as performance benchmarks, or as the basis for index-linked products including index-tracking funds, derivatives, and Exchange Traded Funds (ETFs).
FTSE Russell is a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98 per cent of the investable market globally. According to FTSE Russell, a core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants.
Society Pass recently also announced its ambition to accelerate its growth in Southeast Asia through the launch of its regional headquarters in Singapore on 16 December 2021. Located at Raffles Place in the heart of the Singapore central business district, the new office acts as the company’s designated Asia Pacific hub for regional business and expansion opportunities, in particular, the acquisition and acceleration of high growth e-commerce businesses in the key focus markets of Vietnam, Indonesia and Philippines.
SoPa is a loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points. It seamlessly connects consumers and merchants across multiple product and service categories fostering organic loyalty. From its launch in 2019, SoPa has amassed over 1.5 million registered users and over 3,500 registered merchants and brands. It has since invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its Platform’s consumers, merchants, and acquisitions.