FTSE Russell Removes 24 Turkish Companies from Its Indices
FTSE Russell announced that it will remove 24 Turkish companies that failed to meet the criteria from its indices. The reasons for the decision include investable market capitalization and share surveillance criteria.
Global index provider FTSE Russell has decided to remove 24 Turkey-based companies from its indices in its latest evaluation report. Under this decision, which will take effect after the close of transactions on September 18, the index class of one company was also changed.
Details of the Decision and Effective Date
According to the announcement made by FTSE Russell on August 21, these new adjustments in the indices will be officially implemented after the close of markets on September 18. Within the scope of the changes made, 24 Turkish companies were excluded from the indices, while İmaş Makina was moved from the small-cap index to the micro-cap index.
Reasons for Removal
It was stated that Kontrolmatik, one of the excluded companies, was removed from the list because it failed to meet the "share surveillance criterion." It was announced that the remaining 23 companies were decided to be removed from the indices due to their failure to meet the "investable market capitalization" criterion.
List of Companies Removed from the Index
The companies removed from the FTSE Russell indices include A1 Yenilenebilir, Arena Bilgisayar, BMS Çelik Hasır, Çimbeton, Dardanel, Denge Yatırım Holding, Frigo-Pak Gıda, Horoz Lojistik, İhlas Madencilik, Kafein Yazılım, Kontrolmatik, Makina Takım, Meka Beton, Netas, Nurol REIT, Onur Yüksek Teknoloji, Osmanlı Menkul, Ostim Endüstriyel, Otto Holding, Pınar Süt, RTA Laboratuvarları, Sanica Isı, Selva Gıda, and Trend GYO.