Telecom Egypt said on Friday it had been upgraded to the FTSE Russell mid-cap segment from the small-cap segment, effective after the index provider’s semi-annual review for September 2026.
The move follows a rise in the company’s market capitalization to approximately $3.9 billion, exceeding the minimum threshold required for inclusion in the FTSE Global Equity Index Series mid-cap segment. Telecom Egypt’s shares trade on the Egyptian Exchange under the ticker `ETEL.CA` and on the London Stock Exchange as `TEEG.LN`.
The upgrade reflects Telecom Egypt’s inclusion in the FTSE Russell Emerging Markets Index, which tracks large- and mid-cap stocks across global emerging markets. Index inclusion is determined by criteria including market capitalization, liquidity, trading volume, and free-float standards, serving as a benchmark for investment funds and institutions.
Telecom Egypt’s operations span fixed and mobile voice, internet, data center services, and cloud computing, alongside its 45% stake in Vodafone Egypt and the mobile service brand WE. Tamer El Mahdi, managing director and chief executive officer, said the upgrade "reflects the strength of Telecom Egypt's performance, the resilience of its financial position, and the discipline of its capital management."
The company is one of three Egyptian constituents in the FTSE Russell Emerging Markets Index.
