Cairo – Mubasher: The MSCI Emerging Markets (EM) Index’s May 2017 semi‐annual review, released on Tuesday, has added Telecom Egypt’s (TE) stock to the small- and medium-sized companies’ index.
The review also showed that Egyptian Financial Group Hermes Holding (EFG Hermes) was added to the large companies’ index, and removed from the small- and medium-sized companies’ index.
The large companies’ index currently includes three Egyptian companies, namely the Commercial International Bank – Egypt (CIB), Global Telecom, and now, EFG Hermes.
Meanwhile, Talaat Moustafa Group Holding (TMG) was removed from the large companies’ sector and relisted in the small- and medium-sized companies sector.
Furthermore, South Valley Cement Co was removed from the small companies’ index.
The MSCI EM index undergoes a semi-annual review in May and November each year.
Investors rely on the inclusion and removal of stocks in the MSCI EM Index for their investment decisions.
