In this scenario, it has to be taken into account that the prospectus contains a number of unknown elements concerning the final number of admitted shares on the one hand and the final IPO price on the other hand. Therefore it is important to note that the publication of the weights of the shares in the new index basket is purely indicative and based upon following assumptions:
- for the calculation we assume that a total of 387.619.050 shares will be admitted;
- two indicative baskets are calculated: one based on a price of 23 euro (lowest level of the published range) and another one based on a price of 26.5 euro (highest level of the published range).
The ranking and the selection are based on the selection list, which is valid at the moment of the first listing, being the one calculated at the end of February (rule 5.3.2). The list is annexed. This list is valid for all replacements that would occur from 16 March up to and including 15 April after market close. In case of withdrawal, Tessenderlo would become first reserve candidate, followed by Deceuninck and CMB
Due to the importance of the changes, all weightings will be adapted on the base of the selection list on the one hand and, for Belgacom, on the IPO price on the other hand (rule 5.5.3).
Based on the data mentioned above, Belgacom ranks eighth of the selection list at a valuation of 23 euro (lowest price). Consequently, Belgacom is considered for immediate inclusion in the BEL20®-index.
As the final IPO price is unknown, only a conditional and indicative calculation (on the highest and the lowest prices) of the new basket can be published.
Following announcements will follow:
22 March after close: Announcement of the final composition of the basket
25 March: Confirmation of the changes (end of "if & when" period)
29 March after close: Effective change of the basket and inclusion of Belgacom replacing Tessenderlo.
Based on the selection list and the price range for the Belgacom IPO, following indicative baskets can be viewed by clicking here.