Bahrain Bourse adopts GICS for listed companies

Bahrain Bourse adopts GICS for listed companies

Bahrain Bourse announced adopting the Global Industry Classification Standard for listed companies, effective today, to enhance transparency and meet best international practices. The deal aims at providing better information to international investors on the performance of sectoral indices and easier comparability with global peers and between companies and sectors. Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse, said: "With globalisation taking place at a fast pace, our market has also shown dynamic interaction with numerous changes in the global markets. It is imperative that we consistently aim to meet the growing needs of the global investment community." "The Global Industry Classification Standard successfully resolves many of the issues with previous classification systems, by reflecting the current state of all industries, identifying very specialised sub-industries, and portraying an accurate reflection of the marketplace as much as possible," Shaikh Khalifa added. GICS will reclassify the companies on Bahrain Bourse in 11 sectors into seven sectors, based on their principal business activity