The Warsaw Stock Exchange has started publishing a new blue chip index WIG30, which is made up of the 30 biggest and most liquid stocks on the Warsaw bourse. It is set to gradually replace the WIG20 index, which will ultimately be taken off the listing at the end of December 2015.
WIG 30 is made up of the WIG20 companies plus 10 new firms: banks Alior and ING Bank Âl±ski, metal manufacturer Boryszew, retailers CCC and LPP, media groups Cyfrowy Polsat and TVN, utility Enea, chemicals producer Grupa Azoty and telecom Netia. The new index’s portfolio will at no time include more than 7 companies from one sector, while the share of any single company may not exceed 10 percent of the index.
“WIG30 is a better reflection of the growth of the Polish economy and the dynamic development of the Polish capital market in the past years; the expansion of the elite group of listed companies will be an important factor for their further growth and should attract even more investor interest in their stock,” Adam Maciejewski, the bourse’s CEO said in a statement.
Since WSE’s launch in 1991 the number of listed companies has increased from 5 to 443. The capitalization of Polish companies jumped from zł.8 billion to nearly zł.540 billion since 1994, when WIG20 was launched. WSE is currently one of the fastest growing markets in Europe. It is also the biggest stock exchange in the CEE region.
The Warsaw Stock Exchange is also preparing to replace its mid-cap mWIG40 with WIG50. Small-cap sWIG80 will also be expanded to WIG100. Both these changes are set to be implemented in March 2014.
WIG30TR will be calculated alongside the new blue chip index. It is a total return index, whose value will include the prices shares were traded at as well as dividend income or income from subscription rights.
WIG20 Futures, an index composed of derivative contracts on WIG20, will continue to be listed. However, WIG30 will now become the underlying of new futures and options. The migration from derivatives listed currently and the new derivatives will begin in September 2014 and is scheduled to be taken off the listing in September 2015.
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