StepStone, a leading global provider of total talent solutions, has been informed by the Oslo Bors that its GICS will be changed from “20202010 – Human Resources & Employment Services” to “45101010 – Internet Software & Services” effective 30 September 2008.
The Gobal Industry Classification Standard (GICS) was developed by MSCI, a premier independent provider of global indices and benchmark-related products and services, and Standard & Poor’s (S&P), an independent international financial data and investment services company and a leading provider of global equity indices.
The GICS classifications aim to enhance the investment research and asset management process for financial professionals worldwide. It is designed to respond to the global financial community’s need for an accurate, complete and standard industry definition and consists of 10 sectors, 24 industry groups, 68 industries and 154 sub-industries.
The GICS methodology has been widely accepted as an industry analysis framework for asset allocation, portfolio management and investment research. It is also a valuable contributor to the increasing trend of sector based investing.
Ian Cole, CFO of StepStone, commented “The reclassification reflects the change in the nature of our business over the last few years, from a first generation job board business operating in Europe to a global provider of software solutions for talent management.
StepStone is in the process of seeking a secondary listing on the London Stock Exchange which will increase our exposure to the global investor audience. The MSCI sector indices are important tools for the investment community and having a classification that recognises the fact that we are a software and services business is important”
Contacts
Ian Clapp, Director of Investor Relations
Tel: + 44 7850 128094
Ian Cole, CFO
Tel: +44 7808 946404