Tadawul to update names of 3 sectors, reclassify some companies on Dec. 10

Logo of Saudi Exchange

The Saudi Exchange (Tadawul) will update the names of three sectors (level-2) and reclassify some listed companies in the main market (TASI) and the Nomu-Parallel Market as of Dec. 10, according to Tadawul website.  

The move comes in accordance with the revision made to the Global Industry Classification Standard (GICS). 

The retailing sector will be renamed as consumer discretionary distribution & retail; food & staples retailing as consumer staples distribution & retail; and diversified financials as financial services. 

Meanwhile, 14 companies were reclassified, six of which are in TASI and eight others in Nomu, as follows: 

TASI:

1- Saudi Vitrified Clay Pipes Co. (SVCP) was transferred to the materials sector - Level 1 / materials - Level 2.

2- Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) was moved to the industrials sector - level 1 / capital goods - level 2.

3- Sinad Holding Co. was moved to the consumer staples sector - level 1 / food & beverages - level 2.

4- Batic Investments and Logistics Co. was transferred to capital goods - level 2.

5- Amlak International Finance Co. was moved to financial services - level 2.

6- SHL Finance Co. was transferred to financial services - level 2. 

Nomu:

1- MOBI Industry Co. was transferred to consumer staples sector - level 1 / household & personal products - Level 2.

2- Al Razi Medical Co. was moved to healthcare sector - Level 1 / healthcare equipment & services - Level 2.

3- Marble Design Co. was moved to materials sector - level 1 / materials - level 2.

4- Advance International Company for Communication and Information Technology (AICTEC) was transferred to software & services - level 2.

5- Jahez International Company for Information System Technology was moved to consumer services - level 2.

6- Abdulaziz and Mansour Ibrahim Albabtain (Albabtain Food) was moved to consumer staples distribution & retail - level 2.

7- Leen Alkhair Trading Co. was transferred to food & beverages - level 2.

8- WAJA Co. was moved to capital goods - level 2.