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Standard & Poor’s Index Services, the leading provider of equity indices in Australia, announces that effective close-of-trade on Dec. 21, 2007, the belowlisted constituent additions and deletions will take place in the S&P/ASX indices.
There were relatively few changes to the S&P/ASX 200 for the December 2007 rebalance, limiting the degree of constituent turnover for Australia’s benchmark index. During the course of the last quarter, however, there have been several high-profile corporate actions that have resulted in many index changes in the three months leading into December 2007.
From an index-maintenance perspective, the plethora of merger & acquisition activity has meant that worthy candidates for the S&P/ASX 200 had already been promoted prior to the December 2007 rebalance. “The appetite for acquisitions in the Australian market has not abated, and we are seeing much more index activity prior to the actual rebalance date,” said Simon Karaban, associate director within Standard & Poor’s Index Services. “The index portfolio is being reshuffled numerous times prior to the rebalance because of the corporate activity, restraining the constituent changes at this rebalance”.
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