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ATHEX Announcements  ÁÔÇÅ× announcements |
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10/04/2001
MSCI quarterly Index Rebalancing for Greece
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MSCI announced today its scheduled May 2001 index rebalancing for the Standard MSCI Greece
Index.
As previously announced, these indices are being rebalanced, effective as of the close of
May 31, 2001, in accordance with MSCI''s enhanced methodology for free float-adjustment and
increased coverage. The newly rebalanced Standard MSCI Greece Index will simultaneously
enter the Standard MSCI Developed Market Index Series. On a pro forma basis, the
reclassification of the MSCI Greece Index to the Standard MSCI Developed Market Index
Series will result in a net market capitalization increase of 0.5% and 0.4% in the MSCI
Europe Index and the MSCI EAFE Index, respectively. The MSCI EMF Index will see a net
decrease of 4.7% in market capitalization, as the MSCI Greece and Sri Lanka Indices exit
and the MSCI Egypt and Morocco Indices join this aggregate emerging market index.
SECTOR REPRESENTATION - In order to increase the representation of the
Banks and Telecommunication Services industry groups respectively, Bank of Piraeus will be
added at 70% of its market capitalization, while Panafon Hellenic Telecom will be added at
35% of its market capitalization reflecting the free float available to foreign investors
for these securities. All of the securities in the MSCI Greece Index will be adjusted for
the free float available to foreign investors. This will reduce the market capitalization
of all index constituents. Twenty-three securities will be deleted from the index due to
small size or low liquidity. Some of these deletions are related to the reclassification
of Greece as a Developed European Market, where constituent size is typically higher than
in Emerging Markets.
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