BHB to adopt GICS for listed companies | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

BHB to adopt GICS for listed companies | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Bahrain Bourse announced plans to adopt the Global Industry Classification Standard (GICS) for listed companies effective 11th July 2021.

Chief Executive Officer of Bahrain Bourse, Shaikh Khalifa Bin Ebrahim Al-Khalifa commented: “The industrial re-classification aims to introduce a global industry classification standard to the equity market to enhance transparency and provide more reliable information on the performance of companies and the market in particular that is aligned to international best practices.”

The GICS is a global hierarchical industry classification standard developed by index providers MSCI and S&P Dow Jones Indices and it covers 11 sectors representing the first level of GICS.

Of the 11 industrial sector groups, companies currently listed on Bahrain Bourse will be reclassified into seven industrial sector groups based on their principal business activity.

(Level 1): materials (include one company), industrials