NZX 50 - Weightings, Additions and Deletions

[sb9]

Thought I would start this thread as we (retail investors) often wonder about the impending changes to NZX 50.

Wonder if anyone knows a source where this information can be accessed from time to time.

[trader_jackson]

When will the re-weightings be done?

In my view:
PEB should be gone, market cap to low, although if it gets back into the mid 60's might be ok
ARV may be added, share price needs to increase into the 90's again

[Hoop]

There's already a similar thread on ST (http://www.sharetrader.co.nz/showthread.php?9000-How-to-find-the-constituent-weightings-of-NZX-indices&highlight=weightings) ...that probably won't help you either sb9..as some of it is out of date

[banter]

S&P took this over in June 2015
Details of their methods:
http://www.spindices.com/indices/equity/sp-nzx-50-index

Rough and partial summary:
Free float
Any escrowed shares or holdings over 20% are excluded.
Holdings of 5-20% are treated case-by-case with founder and 'insider' shareholdings usually excluded.

Dual listed shares - free float is adjusted by multiplying by the % of turnover that is from NZ
Overseas listed shares - free float is adjusted by the % of shares listed in NZ

Calculation of MCAP for NZ50 purposes
= free float * average share price over the past 6 months

Change timetable
Changes are effective from third Friday of Mar Jun Sep Dec;
Announced Friday before changed;
Reference date last day of month prior.

Buffer zone - positions 45-55
To bust in, a share must be ranked 44 or above
To be kicked out, it must rank 56 or lower

As it happens there's a big gap between #44 and 45 so it's hard to break in.

Danger zone copied below - free float MCAP for current share price and average past 6 months shown.

Looks like KMD will go next review, and OGC in.
I'm not sure how KMD survived the last review - I've made an assumption that they are overseas listed, not dual listed, and have guessed their NZ shares by comparing volume traded on NZX and ASX.
Come June next year - possibly MPG out and ARV (whose share come out of escrow) or others could come in.

Figures likely to contain errors and omissions - pls let me know if you see any. They did predict PEB out / NZR in last time.
Haven't included the new insurance company listing as the free float last I checked was low.

Shares in red are not in the index.
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