Yangzijiang spin-off to make STI Index debut on April 28
The spin-off will have the same investable weight as Yangzijiang Shipbuilding.
Yangziiang Shipbuilding's spin-off, Yangzijiang Financial Holding (YZJFH), will make its debut in the STI Index on 28 April, following approval from 100% of the company's shareholders.
YZJFH will be added to the STI Index with the same investable weight as Yangzijiang Shipbuilding. The spin-off will likewise be added to FTSE ST Mid Cap Index, FTSE ST China Index, and FTSE ST All-Share Index.
"The STI constituents will be ranked by full market capitalisation on 28 April 2022 and the smallest constituent will be removed from the index effective 5 May 2022," the company announced in a bourse filing.
Meanwhile, Yangziiang Shipbuilding will remain in the STI with the same investable weight following the listing of its spin-off.