FTSE Renaissance Global IPO Index Series Ground Rules v1.4x

More documents

Recommendations

Info

SECTION 7 7.0 CHANGES TO CONSTITUENT COMPANIES 7.1 Impact of Changes to Constituents 7.1.1 The composition of the FTSE Renaissance Global IPO Index may change as a result of decisions or events which affect one or more of the constituent securities. 7.2 Additions Outside of a Review 7.2.1 The FTSE Renaissance Global IPO Index is a dynamic index that includes IPOs, which qualify under Sections 4 and 5, after the close of business on their first trading day. 7.2.2 In the case of a constituent company that is split and forms two or more companies by issuing new equity to existing shareholders, then the resulting companies will be eligible to continue as constituents in the FTSE Renaissance Global IPO Index as their predecessor company if they continue to pass the size, liquidity and free float screens set forth in Section 5. The two resultant companies will remain in the Index for the same number of days as the predecessor would have before the split occurred. 7.3 Deletions Outside of a Review 7.3.1 Index constituents are removed from the FTSE Renaissance Global IPO Index when they exceed 500 trading days. This action occurs after the close on the third Friday at the next quarterly review after the 500 trading days have alapsed. 7.3.2 A stock will be deleted from the FTSE Renaissance Global IPO Index in the event the constituent is delisted from its stock exchange, enters bankruptcy, becomes insolvent or is liquidated. 7.3.3 Deletion on the effective date If an existing constituent is acquired for cash or ineligible paper or by a non-quoted company in its own or another country, then the existing constituent is deleted on the effective date of the acquisition from the FTSE Renaissance Global IPO Index. 7.3.4 Deletion after confirmation Constituents will be deleted from the Index when confirmation is received that acceptance levels have reached a minimum of 85% and that any new shares of the bidding company (if applicable) are listed. A company deleted following a takeover, with a remaining free float of 15% or less, will be permanently removed from the FTSE Renaissance Global IPO Index. 7.4 Mergers and Take-overs 7.4.1 If a constituent is acquired by a non-constituent, the company will be removed from the FTSE Renaissance Global IPO Index. 7.4.2 Where two Index constituents merge, or one Index constituent is acquired by another constituent, the resulting new company will be eligible for inclusion in the FTSE Renaissance Global IPO Index. The resultant constituent will take the predecessors (least remaining) days for the calculation of the 500 th business day. Ground Rules for the Management of the FTSE Renaissance Global IPO Index Series 16 Version 1.4 April 2013
SECTION 7 7.4.3 In the case of a constituent that has been taken over by a non-constituent, the resultant entity will be permanently removed from the FTSE Renaissance Global IPO Index. 7.5 Spin-offs 7.5.1 In the event that a company included in the FTSE Renaissance Global IPO Index is spun off, the securities resulting from the spin off, including the original security where appropriate, will continue to be included in the Index as long as they both continue to meet the criteria set forth in Section 5. 7.6 Suspension of Dealing 7.6.1 If a constituent is the subject of a suspension, it may remain in the index at the price at which it is suspended, for up to 20 business days. During this time FTSE may delete the constituent immediately at zero value in cases where it is expected that the constituent will not recommence trading. 7.6.2 Where a suspension of a constituent lasts beyond noon on the twentieth business day (and the option to remove the constituent has not been exercised), the constituent will normally be deleted from the index on the twenty-first trading day at zero value. Where suspension is for a reason not to the detriment of the constituent and its suspension is expected to be shortterm, it may be retained at its suspension price. 7.6.3 Securities relisted after suspension will not be eligible to be included in the FTSE Renaissance Global IPO Index. Ground Rules for the Management of the FTSE Renaissance Global IPO Index Series 17 Version 1.4 April 2013
Page 1 and 2: Version 1.4 April 2013 GROUND RULES
Page 3 and 4: SECTION 1 1.0 INTRODUCTION 1.1 This
Page 5 and 6: SECTION 1 ASIA PACIFIC FTSE Renaiss
Page 7 and 8: SECTION 1 EMERGING MARKETS FTSE Ren
Page 9 and 10: SECTION 3 3.0 INDEX MANAGEMENT 3.1
Page 11 and 12: SECTION 4 4.3 Stapled Units 4.3.1 F
Page 13 and 14: SECTION 5 5.5 Screening Process 5.5
Page 15: SECTION 6 6.5 Changes in Free Float
Page 19 and 20: SECTION 9 9.0 FTSE RENAISSANCE GLOB
Page 21 and 22: SECTION 10 10.4.2 When a corporate
Page 23 and 24: SECTION 10 STAGE ONE STAGE TWO In S
Page 25 and 26: SECTION 12 12.0 INDEX QUALIFICATION
Page 27 and 28: APPENDIX A INDEX OPENING AND CLOSIN
Page 29 and 30: APPENDIX B Emerging Europe Country
Page 31 and 32: APPENDIX C Developed Europe continu
Page 33 and 34: APPENDIX E CLOSING PRICES USED FOR
Page 35: APPENDIX F FURTHER INFORMATION For

FTSE Renaissance Global IPO Index Series Ground Rules v1.4x

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?