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06 June 2012. NZX Indices announces changes to the NZX 50 Index following the June 2012 Quarterly Index Review. The changes below, and the quarterly index rebalance, will be effective at market open on Monday 18 June 2012.
As a result of the review, Diligent Board Member Services Incorporated (DIL) and Xero Limited (XRO) will be added to the NZX 50 Index at the June Quarterly Index rebalance. Both companies have met the ranking and liquidity requirements for addition to the NZX 50 Index. DIL and XRO will take the place of Rakon Limited (RAK) and Steel and Tube Holdings Limited (STU), who are the lowest ranked constituents in the NZX 50 Index.
NZX Indices also notes that as previously announced to market, effective from the June 2012 Quarterly Index review, the number of indexed shares for NZX 50 and NZX 10 Index constituents are being determined based on the number of the constituents free float shares rather than Modified Free Float shares.
In addition to the change from Modified Free Float to Free Float, NZX Indices wishes to advise, as previously announced, that the absolute liquidity requirement will be used in determining the liquidity of NZX 50 eligible securities with effect from the September quarterly review.
ENDS
Changes to the NZX Equity Indices in no way reflect an opinion on any NZX Listed Issuer - they are determined solely by the NZX Index Methodology.
NZX i-search subscribers receive the full NZX Index Quarterly Review Memo via the i-search platform. For more information about the i-search product please phone (04) 495 2810 or email data@nzx.com
