- Portugal Telecom SGPS (ADR) (Portugal, NYSE: PT, CUSIP: 737273102, Sedol : 2696076) shares will decrease in the S&P ADR Indices by 87,799,950 shares to 1,166,485,050, effective at the close of business on Monday, January, 10, 2005. The share decrease comes at the cancellation of common shares after a company buy-back program.
- Alcan Inc. (US) (Canada, NYSE: AL, CUSIP: 013716121, Sedol: 2013192), a constituent of the S&P ADR Indices, is spinning off its rolled-products division into a new entity, Novelis Inc. Novelis Inc. (US) (Canada, NYSE: NVL, CUSIP: 67000X106) will be added to the S&P ADR Indices at the close of business on Tuesday, January 18, 2005. The company will be added with 73,947,836 shares and an IWF of 1. To account for the spin-off, the pice of Alcan Inc. (US) will be adjusted by one-fifth of the when-issued price of Novelis at the close of business on January 18, 2005.
- CAE Inc. (US) (Canada, NYSE: CGT, CUSIP: 124765108, Sedol: 2125097) will be excluded from the S&P ADR Indices at the close of business on Tuesday, January 18, 2005. The company is being replaced in the S&P Global 1200 Index by Novelis Inc.
| S&P ADR Index – January 19, 2005 | |||
| COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
| ADDED | Novelis, Inc. (US) | Materials | Aluminum |
| REMOVED | CAE Inc. (US) | Industrials | Aerospace & Defense |
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
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