ATX: Higher Free Float Factor For Lenzing AG

Today, the ATX Committee reviewed the calculation parameters for Austrian indices according to its index rules. The free float factor of the leading cellulose fiber manufacturer Lenzing AG was raised from 0.3 to 0.4 due to the sale of Lenzing shares by one of B&C Group’s companies. The free float factor represents the portion of a company’s shares that are in the hands of a multitude of public investors and tradable on the stock exchange. It also impacts the weighting of a stock in an index. The changes will become effective on 19 December 2016. The next regular review of the ATX’s composition is scheduled for 7 March 2017. 

According to “The Rules for the Austrian Indices of the Vienna Stock Exchange”, the inclusion or exclusion of stocks from the Austrian indices is reviewed twice a year (March and September). Decisions on new additions to the index are based on average daily trading volumes and the free float capitalization of companies. The Vienna Stock Exchange reviews the calculation parameters (number of shares, free float factors, representation factors) of the index on a quarterly basis. Once a month, the “ATX Watch List” is published. Representatives of institutional investors, financial institutions that issue financial products on the indices, trading members of the Vienna Stock Exchange, academics advisors and the Vienna Stock Exchange contribute their know-how to the Index Committee, which approves the index rules. A list of the Committee members is available online.