(Vienna) STRABAG SE will be added to the Austrian national index ATX as of 24 November 2022 and will replace S Immo AG. The decision for the exclusion was taken by the Urgent Action ATX-Committee on 11 November 2022. Considering the takeover offer made by CPI Property Group (CPI) to the shareholders of S Immo AG, it was decided to remove S Immo AG from the ATX in the event of further tendering of S Immo AG shares to CPI. Since yesterday, the results from the takeover offer are available. The "Rules for the Austrian Indices" state that in the event of a substantial drop in free float in the context of a takeover, an exchange of index members may also take place outside the usual review cycle. The next-ranked company in the "ATX watchlist" moves up into the index. With this measure, the Index Committee ensures that all companies represented in the benchmark index are readily tradable. The next scheduled review of the ATX composition will take place in March 2023.
The calculation of the ATX is based on a purely quantitative procedure. According to "The Rules for the Austrian Indices of the Vienna Stock Exchange", the inclusion or exclusion of stocks from the Austrian indices is reviewed twice a year (March and September). Decisions on new additions to the index are based on average daily trading volumes and the free float capitalization of companies. The Vienna Stock Exchange reviews the calculation parameters (number of shares, free float factors, representation factors) of the index on a quarterly basis. Once a month, the ATX watchlist is published. Representatives of institutional investors, financial institutions that issue financial products on the indices, trading members of the Vienna Stock Exchange, academics advisors and the Vienna Stock Exchange contribute their know-how to the Index Committee, which approves the index rules. A list of the Committee members is available online.
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