The Saudi Stock Exchange (Tadawul) Announces Renaming the “Media” Industry Group to “Media and Entertainment” Based on the Recent GICS Periodical Review

Thursday, September 27, 2018 at 3:47 PM

Thu Sep 27, 2018 15:47

The Saudi Stock Exchange (Tadawul) announces renaming the “Media” Industry Group to “Media and Entertainment” based on the recent GICS Periodical Review effective on 30/09/2018 as follows:
-    Renaming the “Telecommunication Services” Sector (level-1) as: “Communication Services” Sector.
-    Renaming the “Media” Industry Group (level-2) as: “Media & Entertainment”.
-    Moving the “Media & Entertainment” industry group (level-2) from the “Consumer Discretionary” sector (level-1) into “Communication Services” sector (level-1).
Since Tadawul applies (level 2) on market sectors and indices, this change will only effect the naming of the “Media” to “Media & Entertainment”, and no changes shall affect companies currently under this sector.
GICS Periodical Review of sectors and companies’ performance ensures classifying companies within the right sector thus providing investors with more accurate information.
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