The Saudi Exchange announces the update of the names of three Industry Groups and the reclassification of some listed companies in accordance to the revision on the Global Industry Classification Standard (GICS)

In accordance to the revision made to the Global Industry Classification Standard (GICS), the Saudi Exchange announces updating the names of three Industry Groups (Level - 2) and the reclassification of some listed companies in the Main Market and the Parallel Market (NOMU), effective from the start of trading on Sunday, 10/12/2023.
The update in the industry groups (Level - 2) includes the following:
-    Rename of the “Retailing” industry group to “Consumer Discretionary Distribution & Retail” 
-    Rename of the “Food & Staples Retailing” industry group to “Consumer Staples Distribution & Retail”.
-    Rename of the “Diversified Financials” industry group to “Financial Services”.

Fourteen companies have been reclassified (six companies in the Main Market and eight companies in the Parallel Market), as follows:

Main Market:
1.    Transfer of Saudi Vitrified Clay Pipes Co. (SVCP) to Materials sector - Level 1 / Materials Industry Group - Level 2.
2.    Transfer of Al Hassan Ghazi Ibrahim Shaker Co. (SHAKER) to Industrials sector - Level 1 / Capital Goods Industry Group - Level 2.
3.    Transfer of Sinad Holding Co. (SINAD HOLDING) to Consumer Staples sector - Level 1 / Food & Beverages Industry Group - Level 2. 
4.    Transfer of BATIC Investments and Logistics Co. (BATIC) to Capital Goods Industry Group - Level 2. 
5.    Transfer of AMLAK International Finance Co. (AMLAK) to Financial Services Industry Group - Level 2.
6.    Transfer of SHL Finance Co. (SHL) to Financial Services Industry Group - Level 2.

NOMU - Parallel Market:
1.    Transfer of MOBI Industry Co. (MOBI INDUSTRY) to Consumer Staples sector - Level 1 / Household & Personal Products - Industry Group Level 2. 
2.    Transfer of Al-RAZI Medical Co. (ALRAZI) to Health Care sector - Level 1 / Health Care Equipment & Services - Industry Group Level 2.
3.    Transfer of Marble Design Co. (MARBLE DESIGN) to Materials sector - Level 1 / Materials - Level 2. 
4.    Transfer of Advance International Company for Communication and Information Technology (AICTEC) to Software & Services Industry Group - Level 2.
5.    Transfer of JAHEZ International Company for Information System Technology (JAHEZ) to Consumer Services Industry Group - Level 2.
6.    Transfer of Abdulaziz and Mansour Ibrahim ALBABTIN (ALBABTAIN FOOD) to Consumer Staples Distribution & Retail Industry Group - Level 2.
7.    Transfer of LEEN ALKHAIR Trading Co. (LEEN ALKHAIR) to Food & Beverages Industry Group - Level 2.
8.    Transfer of WAJA Co. (WAJA) to Capital Goods Industry Group - Level 2.

The Saudi Exchange’s decision to update some sectors and industry groups, and the reclassification of some listed companies on the Exchange is based on the revision of the Global Industry Classification Standard (GICS).