Appollo Ispat Complex Ltd has been added to Dhaka Stock Exchange Broad Index (DSEX) with effect from April 20.
As part of its quarterly rebalancing IPO addition for DSEX, the DSE Index Committee selected the company for inclusion in the index. Inclusion of the company raised the number of companies under DSEX to 267.
The company has qualified as eligible constituent for inclusion in DSEX in accordance with the DSE Bangladesh Index Methodology, says a DSE press release yesterday.
Under the methodology, DSEX eligible stocks must have a float-adjusted market capitalisation of above Tk10 crore. Additionally, if a current index constituent falls below Tk10 crore threshold, but is no less than Tk7 crore, the stock remains in the index provided it also meets other inclusion criteria.
Stocks must have a minimum six-month average daily value traded of Tk10 lakh as of the rebalancing reference date.
At each annual rebalancing, if a current index constituent falls below Tk10 lakh, but is no less than Tk7 lakh, the stock remains in the index provided it also meets the other eligibility criteria.
In addition, all eligible stocks for the DSE indices are required to trade at least half of normal trading days each month for the three months prior to the rebalancing reference date.