Telecom Egypt has been upgraded from the FTSE Russell Small Cap segment to the Mid Cap segment as part of the index provider's semi-annual review for the Middle East and Africa, effective September 2026.
The move follows a period of strong performance for the company, whose shares have reached new highs in recent weeks. Telecom Egypt's market capitalization now stands at approximately $3.9 billion, exceeding the minimum threshold required for Mid Cap inclusion.
The FTSE Russell Emerging Markets Index currently includes three Egyptian companies, with Telecom Egypt joining the index alongside its peers. Index inclusion is determined by criteria including market capitalization, liquidity, trading volumes, and free-float standards.
Telecom Egypt, which operates the mobile service WE and holds a 45% stake in Vodafone Egypt, is listed on the Egypt Stock Exchange under the ticker ETEL.CA and on the London Stock Exchange as TEEG.LN. Tamer El Mahdi, Managing Director and Chief Executive Officer, noted that the promotion reflects "the solidity of Telecom Egypt's performance, the resilience of its financial position, and the discipline in capital management."
