From March 22nd, Voestalpine will be listed among the five largest stock exchange groups instead of Raiffeisen Bank International.
The index committee of the Vienna Stock Exchange examined and updated the composition of the leading index ATX. The Lower Austrian energy supplier EVN will replace Telekom Austria in the Austrian Traded Index (ATX) from March 22, 2021. The impetus for this is given by the higher stock exchange turnover and the larger free float capitalization, as the stock exchange announced on Tuesday evening. The domestic national index tracks the 20 most traded and largest listed stocks.
Thanks to higher capitalization, the steel group voestalpine, headquartered in Linz, rises to the “ATX five” – Raiffeisen Bank International has to free up the space. The five largest stock exchange groups include the Erste Group, the oil and gas group OMV, the energy group Verbund, Voest and the brick and building materials manufacturer Wienerberger.
According to the information, the free float factors of the “prime market” companies will remain unchanged and will be reviewed again at the beginning of June. The ATX composition will be checked again in September.
According to the Vienna Stock Exchange, the calculation of the ATX is based on a quantitative methodology that is laid down in a set of rules. According to the “Guidelines for Austrian Indices”, the stock exchange can add or remove companies from the leading index after the semi-annual review (March and September).
The daily average turnover and the free float capitalization of the companies serve as the basis for decision-making. The calculation parameters (number of shares, free float factors and representation factors) are checked every quarter (March, June, September and December).
The “ATX watch list” is published monthly by the exchange. Institutional investors, trading members, issuers of financial products, academics and the Vienna Stock Exchange are represented on the index committee, which decides on the rules governing the indices.
