EGX Restructure Market’s Sectors to be effective beginning of 2020

The Egyptian Exchange (EGX) completed a comprehensive restructuring
process of its market sectors based, in a step aiming to raise the
efficiency and competitiveness of the Egyptian capital market.
Through this restructuring, EGX aims to provide sectors that reflect their
activities as well as their subsidiaries’, and provide equal opportunities
of a single-activity nature listed companies.
The restructuring resulted in adding sectors to have them a total of 18
instead of 17. Sector name of 53 companies changed, 24 companies
moved to other sectors after studying their main activities, and 821
companies remained in their sector without modification.
Mohamed Farid Saleh, Executive Chairman of EGX, said that the results
of this comprehensive restructuring will be active beginning of the year
2020.
Farid continued, that the coming period will witness the launch of
sectoral indices for the newly created sectors adding that the
restructuring methodology was a result of studying international
markets and adopting the appropriate methodology for the Egyptian
market.
The new sector added after the restructure are “Educational services”
sector accommodating listed companies active in this field and
“Shipping & Transportation services” sector accommodating listed
companies operating in transport and shipping.
Some sectors where merged; “Media”, “Technology and
Telecommunications” sectors as well as “Chemical” sector and “Basic
Resources” sector.
“Building materials” sector became an independent sector from the
“Construction” sector, and the “Construction and building materials”
sector changed to become the “Contracting and construction
engineering” sector. Also “Paper and packaging” sector became an
independent sector from the “Industrial goods, services and
automobiles” sector.
Finally, the “Financial services excluding banks” sector was renamed to
be “Non-Banking financial services” sector, the “Home and personal
products” sector was renamed to be “Textile and durables”, the “Gas

and petroleum” sector become the “Energy and support services”
sector, and the "Distributors and retail" sector become "Trade and
distributors’ sector.