NZX had previously announced that NZ Refining was to be added to the NZX 50 Index, effective Monday 3 April 2006, as a result of NZX's regular Quarterly Index Review program, replacing AXA Asia Pacific Holding Limited (AXA). NZ Refining's inclusion has been moved forward to Monday 27 March 2006, the date on which Carter Holt Harvey will be removed from the NZX 50 Index.
Meanwhile, Skellerup is the new company to be added to the NZX 50 Index at the Quarterly Index Review, filling the vacancy created by the removal of AXA. Skellerup is a marketer, manufacturer and distributor of rubber and foam products, footwear and vacuum pumps. Skellerup will rank around 48 th in the NZX 50 Index.
Other NZX Equity Indices affected by the revised index changes include NZX 50 Portfolio Index, NZX MidCap Index – NZ Refining and Skellerup will be added to both of these indices to the same schedule as their addition to the NZX 50 Index. In the NZX 15 Index, Carter Holt Harvey's place will be taken by express package services provider Freightways Limited.
Summary of key index changes effective Monday 27 March 2006, as a result of the Carter Holt Harvey takeover:
- NZX 50 Index, NZX 50 Portfolio Index
The New Zealand Refining Company Limited (NZR) will be added to the above indices. Carter Holt Harvey Limited (CAH) will be deleted.
- NZX MidCap Index
The New Zealand Refining Company Limited (NZR) will be added to the NZX MidCap Index. Carter Holt Harvey Limited (CAH) will be deleted.
- NZX 15 Index
Freightways Limited (FRE) will be added to the NZX 15 Index. Carter Holt Harvey Limited (CAH) will be deleted.
Summary of key index changes effective at the Quarterly Index Review, Monday 3 April 2006 :
- NZX 50 Index, NZX 50 Portfolio Index
Skellerup Holdings Limited (SKL) will be added to the above indices. AXA Asia Pacific Holdings Limited (AXA) will be deleted.
- NZX MidCap Index
Skellerup Holdings Limited (SKL) will be added to the NZX MidCap Index.
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.
