FTSE Group (“FTSE”) announces that the FTSE Italia Series (including the FTSE MIB) will be changed to use actual free float, rounded up to the next 1%. This change will take effect from the next index review on 24 September 2012.
Following initial implementation, changes to free float between index reviews will be made in response to corporate events, secondary offerings or significant changes to shares in issue (i.e. 10% or greater). All other changes to free float will be made at the quarterly review dates. Changes will only be applied if the actual float moves more than 3% from the current figure.
The FTSE MIB basket selection criteria has been modified to provide a more transparent procedure, based on size and liquidity, with a simplified capping algorithm and streamlined shares in issue changes.
These changes to the Ground Rules of the FTSE Italia Index Series were made following discussions with clients, and were approved by the FTSE Italia Index Policy Committee.
Updated ground rules reflecting these changes are available on the FTSE and Borsa Italiana websites. For further information, please refer to the technical notice issued by FTSE: http://www.ftse.com/tech_notices/2012/Q3/36927_20120807_Changes_FF_and_MIB_Criteria.jsp