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The Vienna Stock Exchange announces new free float factors for Austrian indices (in particular the Austrian benchmark index ATX), following the quarterly review of the calculation parameters. The free float factor of BAWAG Group AG rises from 0.5 to 0.7, following Cerberus' sale of a large block of shares. At Marinomed Biotech AG, the free float factor will rise from 0.4 to 0.5. The free float factor expresses how many shares of a company are distributed among the public and influences how strongly a share is weighted in the index. The French biotech company Valneva SE will be removed from the ATX Prime Index after 20 December 2019. Valneva shares are expected to be tradable in the international segment global market in the future. The changes of the free float factors will take effect on 23 December 2019. The next scheduled review of the composition of the ATX will take place on 3 March 2020.
The calculation of the ATX is based on a purely quantitative procedure. 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 watchlist 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.
