MAINTENANCE AND THE CONTINUITY OF THE INDICES

 

All of the indices have varying base values and the continuity of the indices is maintained by adjusting these base values (the divisor of the index formula).

The formula for adjusting the base market value is as follows:


Corporate actions that necessitate an adjustment to the base values of the indices and the adjustment times are shown below:

Price Indices

Corporate Action	Adjustment Time
a) Capital increase through rights issues i. Exercising preemptive rights ii. Not-exercising the preemptive rights	i.Beginning date of subscription period ii.Ending date of sales
b) Addition of a new stock to the Index	Date of entry
c) Exclusion of a constituent stock	Date of exclusion
d) Change in the ratio of stocks registered as tradable by Central Registry Agency	Quarterly
e) Mergers and acquisitions	Stock distribution date
f) Company splits	Stock distribution date
g) Tender Offer	Second day after the disclosure of the tender offer result in the ISE daily bulletin.

 

Return Indices

Corporate Action	Adjustment Time
a) Capital increase through rights issues i. Exercising preemptive rights ii. Not- exercising the preemptive rights	i.Beginning date of subscription period ii.Ending date of sales
b) Addition of a new stock to the Index	Date of entry
c) Exclusion of a constituent stock	Date of exclusion
d) Change in the ratio of stocks registered as tradable by Central Registry Agenc	Quarterly
e) Cash Dividend payment	Ex-dividend date
f) Mergers and acquisitions	Stock distribution date
g) Company splits	Stock distribution date
h) Tender offer	Second day after the disclosure of the tender offer result in the ISE daily bulletin