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, 12 companies have been excluded from the general index sample ASE100 and other 12 companies have been added. The companies that have been excluded from the index sample were: Arabia Insurance Company – Jordan, Jordan French Insurance, Jordan International Insurance, Arab Jordanian Insurance Group, Jordan Hotels & Tourism, Jordan Investment Trust, United Financial Investments, Bindar Trading & Investment, Jordan Masaken for Land & Industrial Development Projects, Philadelphia Pharmaceuticals, Siniora Food Industries, and Northern Cement.
The companies that have been added to the index sample were: Al-Nisr Al-Arabi Insurance, Jerusalem Insurance, Arab Union International Insurance, Century Investment Group, The Real Estate & Investment Portfolio, High Performance Real Estate Investments, Babelon Investments, Al-Rakaez Investment, Rum Group for Transportation & Tourism Investment, Kafa`a for Financial & Economical Investments, Amwaj Properties, and Assas for Concrete Products.
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. This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.
Regarding the general index ASE100, Mr. Wathaifi clarified that the index sample includes the most active 100 companies at the ASE and the highest in terms of market capitalization. The full market capitalization of the index constituents represents 94.5% of the total market capitalization of the companies listed on the ASE. The free float market capitalization of the index constitutes represents 96.9% 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 index constituents represents 84.6% of the total market capitalization of the companies listed on the ASE, while the free float market capitalization of these companies represents 87.2% of the total free float market capitalization of the ASE listed companies.
In light of the above, the index constituents will be modified on the 2nd of January 2023. Interested parties can access to the constituents of the index with the new weights through the following link: