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ASE concludes quarterly review

By JT - Jun 29,2016 - Last updated at Jun 29,2016

AMMAN —  Amman Stock Exchange (ASE) has conducted the periodic quarterly review of the ASE index constituents to ensure that its General Price Index reflects the market performance and the trading activity of the listed companies, ASE CEO Nader Azar said on Wednesday.

By this rebalancing, the activity of listed companies in terms of trading during the last quarter has been reviewed, he said. The ASE has also conducted its screening process for all listed companies using the full market capitalisation of the companies and the number of trading days during last quarter, he added.

As a result of this review, eleven companies had been excluded from the index sample and other eleven companies had been added. 

The companies that had been excluded from the index sample were: Future Arab Investment, Arab International Hotels, Petra Education, Jordan Loan Guarantee Corporation, Zara Investment, Alisraa for Islamic Finance and Investment, Jordan Poultry processing and Marketing, Alsharq Investments Projects, National Chlorine industries, Transport and Investment Barter, and Comprehensive Land Development and Investment.

As for the companies that had been added to the index sample, they were: Alia- The Royal Jordanian Airlines, Taameer Jordan Holdings, Amoun International for Investments, First Insurance, Real Estate Development, Middle East Insurance, Philadelphia International Educational Investment, National Poultry, Al-Eqbal Printing and Packaging, Jordan French Insurance and Jordan Insurance  according to the ASE website.

As part of the process, the ASE calculated the free float for all listed companies at the ASE based on the data available at the Securities Depository Centre  website. The review also includes the reduction of the weights for some companies to maintain the 10 per cent cap that applied to index constitutes.

Azar explained that the index sample includes one hundred companies which are the most active in the ASE and the highest in terms of market capitalisation. The full market capitalisation of the index constituents’ represent 90.9 per cent of the total market capitalisation of the companies listed at the ASE. The free float market capitalisation of the index constitutes’ represents 93.6 per cent of the total free float market capitalisation of the listed companies at the ASE.

Accordingly, the index constituents will be modified on July 3rd and interested parties can access to the constituents of the index with the new weights through the following link: 

http://www.exchange.jo/en/constituents

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