GEN - FTSE/JSE Africa Index Series - Treatment of Inward Listings in the Index
JSE
GEN
GEN - FTSE/JSE Africa Index Series - Treatment of Inward Listings in the Index
Series
FTSE/JSE Africa Index Series
Treatment of Inward Listings in the Index Series
25 October 2011
The Minister of Finance, Pravin Gordhan, announced the reclassification of
inward foreign listed shares on the JSE as domestic assets, in his Medium Term
Budget Policy Statement today:
We have also agreed on several reforms to improve South Africa`s position as a
financial gateway into Africa and facilitate cross-border transactions. All
inward-listed shares on the JSE will henceforth be classified as domestic assets
and be included on the JSE indices, as agreed with the regulatory authorities.
Steps will be taken to simplify procedures and reduce the cost of cross-border
money remittances, particularly to neighbouring countries and the rest of
Africa.
The FTSE/JSE Advisory Committee (AC) will determine the changes to the Index
Series in response to the announcement, and will ensure that these are applied
in an orderly manner. An ICA will be published to the market before any change
is applied.
The AC will carefully consider the impact of various treatments, bearing in mind
constituent liquidity and constituent weighting among other factors. The next
scheduled meeting of the AC is on Wednesday, 07 December 2011.
We would welcome any comments from market participants that would assist the AC
in this process. Please direct any comments or enquiries to Mark Randall at the
JSE by email (indices@jse.co.za) or telephone (+27 11 520 7137)
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Date: 26/10/2011 07:06:30 Produced by the JSE SENS Department.
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