Warsaw launches WIG Ukraine
2011-07-06 17:25:42
Yesterday the Warsaw Stock Exchange launched the WIG Ukraine index. The WIG U consists of five companies four of which are agricultural companies. This is the second national index on the WSE after the Polish index. Currently this is the only index outside of Ukraine whose portfolio is fully consists of Ukrainian stocks.
However WIG U does not include the Industrial Milk Company which completed its IPO on the WSE two weeks ago. Agro Liga which listed on the Newconnect, the WSE small and mid cap board, is also not included. The index is composed as follows:
|
No. |
STOCK |
NUMBER OF SHARES |
WEIGHT (%) |
|
1 |
KERNEL |
11 411 000 |
40,00 |
|
2 |
ASTARTA |
7 756 000 |
30,66 |
|
3 |
MILKILAND |
8 500 000 |
15,45 |
|
4 |
AGROTON |
5 670 000 |
8,92 |
|
5 |
SADOVAYA |
10 771 000 |
4,96 |
SOURCE WSE
The WIG U differs significantly from UAIndex. The key difference is it’s a trading product, whose underlying strength is Ukraine’s economy. UAIndex is not a trading product yet, whose key strength is Ukraine’s agricultural sector integration with the global commodity market. We will add the WIGU to list of tracked indexes.
“The WSE Ukrainian stock index is the first index of its kind in Europe outside Ukrainian stock exchange indices. The intention of the WSE is to give Polish and international investors yet another important investment tool. The index represents the strategic importance of Ukraine business on the WSE and attracts the attention of international market participants to the WSE,” said WSE CEO Ludwik Sobolewski.
The WIG-Ukraine index portfolio will consist of companies listed on the WSE Main Market which have a registered office in Ukraine or a Ukrainian subsidiary which constitutes the main part of the holding structure with a registered office outside Ukraine. Similar to other indices, WIG-Ukraine index companies need to have at least 10 percent free-float shares and belong to one of the following WSE Main Market segments: 250PLUS, 50PLUS or 5PLUS. The index will be revised on a quarterly basis. New issuers may be added to the index portfolio after three trading sessions since the debut listing. WIG-Ukraine is a total return index as it includes dividends and subscription rights. The index base date is 31 December 2010 and the index base value is 1,000 points.
Like WIG-Poland, WIG-Ukraine is published on a single-price basis: after the first and the second fixing and after the session close.