The ASE index Quarterly review
Mr. Mazen Wathaifi the Chief Executive Officer of the Amman Stock Exchange (ASE) said that the ASE has conducted the periodic quarterly review of the ASE indices constituents in purpose of ensuring that these indices reflect the market performance and the trading activity of the listed companies. By this rebalancing, the activity of listed companies in regard to trading during the last quarter has been reviewed. After that, the ASE has conducted its screening process for all listed companies based on the criteria used by the ASE represented by full market capitalization of the companies and the number of trading days during last quarter.
Mr. Wathaifi added that as a result of this review, the number of companies that meet the requirements for selecting the Amman Stock Exchange General Index (ASEGI) sample were 77 companies. Where 4 companies have been excluded from the ASEGI sample and other 8 companies have been added. The companies that have been excluded from the index sample were: Middle East Insurance, Jordanian Duty Free Shops, Jordanian Expatriates Investment Holding, and The Consultant & Investment Group.
The companies that have been added to the index sample were: Jordan Insurance, Salam Internationl Transport & Trading, Jordan International Investment, Future Arab Investment Company, Afaq Holding for Investment & Real Estate Development, Amwaj Properties, Jordan Masaken for Land & Industrial Development Projects, and Comprehensive Land Development and Investment.
Regarding the ASEGI, Mr. Wathaifi clarified that the Index sample includes the most active companies at the ASE and the highest in terms of market capitalization. The full market capitalization of the Index constituents represents 91.4% of the total market capitalization of the companies listed on the ASE. The free float market capitalization of the Index constitutes represents 94.3% of the total free float market capitalization of the listed companies on the ASE.
As for the ASE20 and ASETR indices the full market capitalization of the sample represents 83.4% of the total market capitalization of the companies listed on the ASE, while the free float market capitalization of these companies represents 86.4% of the total free float market capitalization of the ASE listed companies.
As part of the process, the ASE calculated the free float for all listed companies on the ASE based on the data received from the Securities Depository Center (SDC). This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.
In light of the above, the index constituents will be modified on the 1st of October 2023. Interested parties can access to the constituents of the index with the new weights through the following link: