The following changes will take effect on Monday 3 October 2005:
- NZX 50 Index, NZX 50 Portfolio Index
Westpac Banking Corporation Ltd (WBC) will be added to the above indices. Restaurant Brands New Zealand Ltd (RBD) will be deleted.
- NZX SmallCap Index
Restaurant Brands New Zealand Ltd (RBD) will be added to the NZX SmallCap Index
- NZX 15 Index
Vector Ltd (VCT) will be added to the NZX 15 Index. Nuplex Industries Ltd (NPX) will be deleted.
Westpac Banking Corporation Ltd (WBC) is to be added to the NZX 50 Index and NZX 50 Portfolio Index. Westpac has qualified after the Australian company issued shares to a large number of New Zealand shareholders, in exchange for shares in Westpac's delisted New Zealand entity Westpac (NZ) Investments Ltd (WPT). As an Overseas Listed Issuer, Westpac's index weighting is based on the number of Westpac shares held on the New Zealand register. Based on current prices, Westpac will rank around 12th of the issuers in the NZX 50 Index, and will have a weighting of around 1.8%.
In response to the addition of Westpac to these indices, Restaurant Brands New Zealand Ltd (RBD) is to be transferred to the NZX SmallCap Index.
Vector Ltd (VCT) is to be added to the NZX 15 Index. Vector listed via an IPO in August, issuing $593 million worth of new shares. There has been active trading in Vector shares, with over $150 million worth of shares changing hands in the first month of listing. Nuplex Industries (NPX) is to be deleted from the NZX 15 Index to make way for Vector.
These index changes arise from NZX's regular Quarterly Index Review schedule. Quarterly Index Reviews are conducted in March, June, September and December ofeach year.
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.
