Subject to the merger being duly approved by the court on 1 August 2000, CWHKT will now be suspended from trading on 9 August 2000 and the number of new PCCW shares to be issued will be ascertained by 21 August 2000. The constituent change in the Hang Seng Index will therefore take effect according to the following schedule:
On 9 August 2000: Replacement of CWHKT by PCCW, and the market capitalisation of PCCW will be determined as previously announced. On 22 August 2000: Updating of PCCW's number of shares based on the actual record of the share registrar as at 21 August 2000.
The constituent changes in the other indexes as announced yesterday on the delisting of CWHKT will also take place on 9 August 2000. The dates are subject to change in the event that the court procedures on the merger between PCCW and CWHKT are further delayed.
The effective date for replacing Great Eagle Holdings Ltd. (41) and Shangri-La Asia Ltd. (69) by Legend Holdings Ltd. (992) and Li & Fung Ltd. (494) in the Hang Seng Index and the relevant changes in the Hang Seng London Reference Index will remain 2 August 2000.
The Hang Seng family of indexes is managed and compiled by HSI Services Limited, which is a wholly-owned subsidiary of Hang Seng Bank. The members of the index family include the Hang Seng Index, Hang Seng 100, Hang Seng China-Affiliated Corporations Index, Hang Seng China Enterprises Index, New Hang Seng MidCap 50 Index, Hang Seng IT Index, Hang Seng IT Portfolio Index, Hang Seng London Reference Index and Hang Seng Asia Index.
