Society Pass (SoPa) Announces Addition to the Russell 2000® Index

Rhea-AI Summary

Society Pass (Nasdaq: SOPA) is set to join the Russell 2000® Index, effective December 20, 2021, following its IPO on November 9, 2021. This inclusion is expected to enhance market visibility for SoPa as it aims for growth in Southeast Asia. The Russell 2000® Index represents small-cap U.S. stocks and is utilized by investment managers for index funds and benchmarks. The CEO emphasized that this milestone will help attract more attention to the company's data-driven loyalty platform, which supports local businesses with advanced commerce solutions.

Positive

• Inclusion in the Russell 2000® Index enhances market visibility.
• Successful IPO on November 9, 2021, supports company growth.

Negative

• None.

Follows IPO on November 9, 2021

SINGAPORE, Dec. 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), a leading Southeast Asian data-driven loyalty platform, today announced that the Company will be added to the Russell 2000® Index, effective at the open of the U.S. markets on December 20, 2021, according to the preliminary list of IPO additions to the Russell indexes. 

Dennis Nguyen, CEO of Society Pass, commented, “This is an exciting milestone for Society Pass to reach soon after our successful IPO in November. Being a part of these highly regarded and widely used indexes will bring greater market awareness to our Company as we work to achieve our goals for growth and expansion in Southeast Asia.” 

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. 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. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 2000® Index and the Russell indexes reconstitution, go to: Russell Reconstitution | FTSE Russell

About Society Pass

SoPa’s customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profile analytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. SoPa also operates www.leflair.com, Vietnam’s leading lifestyle e-commerce platform.

For more information, please check out: http://thesocietypass.com/

Forward-Looking Statements

The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.

Contacts:

SoPa:
Raynauld Liang, CFO
ray@thesocietypass.com

Investor Relations:
Jeff Ramson, CEO
PCG Advisory
jramson@pcgadvisory.com
(646) 863-6341

FAQ

What does Society Pass's inclusion in the Russell 2000® Index mean for SOPA stock?

Inclusion in the Russell 2000® Index provides greater visibility and potential investment interest, which may positively impact SOPA stock performance.

When will Society Pass be added to the Russell 2000® Index?

Society Pass will be added to the Russell 2000® Index effective at the open of U.S. markets on December 20, 2021.

What is the significance of the Russell 2000® Index for Society Pass?

The Russell 2000® Index is a widely recognized benchmark for small-cap stocks, and being part of it can lead to increased market interest and investment opportunities for Society Pass.

What recent milestone did Society Pass achieve?

Society Pass achieved the milestone of being added to the Russell 2000® Index shortly after its IPO.