Moscow Exchange quarterly index review: Polyus Gold and Mechel to join key equity indices
OREANDA-NEWS. Moscow Exchange announces the results of its quarterly review of equity indices, in accordance with the recommendations of the Exchange Index Committee. The revised indices will be in effect for the quarter 17 March to 15 June 2015. The Exchange also updates the market on changes in the free float ratios of several issuers.
Polyus Gold International Limited ordinary shares ("ords") and Mechel ords will be added to the MICEX Index and RTS Index, replacing Bank Saint Petersburg and NCSP.
Polyus Gold International Limited, Asha Metallurgical Plant and Kazanorgsintez will be added to the Broad Market Index, replacing Veropharm, Synergy and Hals-Development.
Polyus Gold shares will be added to the Moscow Exchange indices without prior inclusion in the list of shares under consideration for index inclusion following its MOEX listing in December 2014; this is due to the stock's sufficient free float ratio, liquidity and market capitalisation. Mechel will return to the indices due to an increase of the company's market capitalization; Mechel shares were removed from the indices in September 2014.
Free float ratios will be adjusted for the following securities included on the new lists as follows:
Ticker | Name | Current free float | New free float |
---|---|---|---|
BSPB | Bank Saint Petersburg ords | 45% | 37% |
DVEC | Far Eastern Energy Company ords | 12% | 15% |
HALS | Hals Development ords | 6% | 4% |
KRSG | Krasnoyarsk Hydro-Power Plant ords | 8% | 11% |
MOEX | Moscow Exchange ords | 51% | 56% |
OGKB | OGK-2 ords | 22% | 18% |
PGIL | Polyus Gold International Limited, foreign stocks | — | 22%* |
TRCN | TransContainer ords | 8% | 9% |
*the Index Committee recommends 10% free float to be used to compute the indices (pursuant to clause 2.6 of the Free Float Methodology).
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