New Zealand Exchange Limited (NZX) has gained a place in the NZX 50 Index and Macquarie Goodman Property Trust is to join the NZX 15 Index, effective 2 April 2007.
NZX will replace Restaurant Brands NZ Limited (Restaurant Brands) as a result of a Quarterly Index Review. In this review companies eligible for the NZX 50 Index are ranked by free float market capitalisation.
This quarter, Restaurant Brands ranked 57th of the companies eligible for the NZX 50 Index, two places below the ranking of 55th required to maintain a place in the NZX 50 Index. Restaurant Brands will replace NZX in the NZX SmallCap Index.
NZX qualified for the NZX 50 Index by being the highest ranked company not in the NZX 50 Index at this time and will rank around 45th in the NZX 50 Index.
NZX operates New Zealand’s securities markets NZSX, NZDX and NZAX. Related NZX businesses include Link Market Services, Smartshares, NZX Agrifax and FundSource in New Zealand and AXE ECN in Australia.
Macquarie Goodman Property Trust (MGP) is also to be added to the NZX 15 Index, replacing Tower Limited (TWR) effective 2 April 2007. MGP will rank around 13th in the NZX 15 Index.
Macquarie Goodman Property Trust portfolio includes office parks, industrial estates, business parks and warehouse/distribution centres.
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.
