Bahrain Bourse to implement GICS for listed companies

Bahrain Bourse to implement GICS for listed companies

Manama: Bahrain Bourse on Monday unveiled its plans to adopt the Global Industry Classification Standard (GICS) for the listed companies effective 11th July, 2021.

The step is in line with Bahrain Bourse's strategy to enhance transparency and efficiency in Bahrain's capital market and to meet best international practices. The GICS is a global hierarchical industry classification standard developed by index providers MSCI and S&P Dow Jones Indices and covers 11 sectors representing first level of GICS.

The industrial re-classification will provide better information to international investors on the performance of sectorial indices and enable easier company and sectorial comparability with global peers as well as comparability between companies and sectors.

"The industrial re-classification aims to introduce a global industrial 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,“ Shaikh Khalifa Bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse, said.

"The decision to reclassify current industrial sectors aims to establish alignment with global industrial standards for classifying listed companies as adopted by regional and international stock exchanges, which will provide better information to international investors on the performance of