Dhaka, Bangladesh (BBN)-The Dhaka Stock Exchange (DSE) restructured two price indices – DSE Broad Index (DSEX) and DSE 30 Index (DS30) – and added one company to the DSEX, a move that will help gauge the market more accurately.
The premier bourse reconstituted the indices in accordance with DSE Bangladesh Index Methodology, which was designed by S&P Dow Jones Indices, a global leader in providing investable and benchmark indices to the financial markets.
The methodology is also being supervised by an indices committee of the DSE.
Matin Spinning Mills Ltd has met all the criteria of quarterly initial public offering (IPO) addition and qualified as eligible constituent of DSEX which will be effective from July 20, 2014, the DSE said in a statement on Wednesday.
The restructuring will take place in every quarter and the DSEX will have 227 companies in line with the latest addition.
Meanwhile, three existing companies will be excluded from the DS30 as they failed to meet certain criteria after the semi-annual rebalancing of the index. Also, three companies will join the DS30 index.
The companies that will be included are: Bangladesh Export Import Company Ltd, National Bank Ltd and Advance Chemical Industries (ACI) Ltd will be included in DS30 Index. And the companies to be excluded are: United Airways (BD) Ltd, Uttara Bank Ltd and R N Spinning Mills Ltd.
The DSE launched DSEX and DS30 price indices on January 28, 2013 for reflecting better calculation of market trends.
BBN/BB/ANS-16July14-8:50pm (BST)
