FTSE Russell, a London Stock Exchange group entity, has upgraded Ooredoo to large cap from midcap in its global equity index series (GEIS).
The latest move comes in the backdrop of semi-annual review of FTSE Russell, which is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.
The index provider had downgraded Masraf Al Rayan to midcap from large cap; and Doha Bank to small cap from midcap segment.
The index review changes announced may be subject to revision until close of business on September 1, 2023. Effective Monday, September 4, 2023, the index review changes will be considered final.
The revision will be effective on September 14, 2023 after the close for the Qatari market.
The FTSE GEIS is a global equity index framework that includes more than 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets.
It has a wide range of indexes available for investors, allowing them to focus on specific markets and market segments.
FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
Dukhan Bank had found its place within the midcap segment in the GEIS.
FTSE Russell also included Qatari German Medical Devices with its microcap segment, while it deleted Medicare Group from its small cap and Qatar Industrial Manufacturing and Doha Insurance from the microcap segments.
