Announcement for August 10, 2023 at 09:30 PM GMT
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
UPDATE ON TREATMENT OF DRS WHERE UNDERLYING SHARES ARE NOT AVAILABLE FOR TRADING AS PART OF THE AUGUST 2023 INDEX REVIEW
As announced on May 11, 2023, following feedback from market participants regarding the uncertainty around the free float availability of certain Depositary Receipts (DRs) where underlying shares are not available for trading, MSCI will not implement additions and will freeze any upward size-migrations of such securities within the MSCI ACWI IMI, the MSCI China All Shares IMI and relevant MSCI J-Series Indexes as part of the August 2023 Index Review.
Therefore, MSCI will not implement the below changes:
Migration from the Mid Cap Size-Segment to the Large Size-Segment:
Security Name - (MSCI Security Code/RIC Code)
* LEGEND BIOTECH CORP ADR (14435.01.01/LEGN.OQ)
Addition to the Standard Size-Segment:
Security Name - (MSCI Security Code/RIC Code)
* FULL TRUCK ALLIANCE ADR (20152.01/YMM.N)
Addition to the Small Cap Size-Segment:
Security Name - (MSCI Security Code/RIC Code)
* EHANG HOLDINGS A ADR (14080.01/EH.OQ)
* GAOTU TECHEDU A ADR (98680.01/GOTU.N)
* YATSEN HOLDING A ADR (16734.01/YSG.N)
* QUDIAN A ADR (94154.01/QD.N)
MSCI will continue to review and update the free float of existing index constituents according to MSCI's Free Float Data methodology. All index review changes will be implemented as of the close of August 31, 2023 (effective September 1, 2023).
As a reminder, MSCI defines the free float of a security as the proportion of shares outstanding that is considered available for purchase in the public equity markets by international investors.
MSCI continues to welcome feedback from all market participants and investors on these issues. MSCI will launch a consultation on the treatment of such ADRs in the coming weeks.
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
End of announcement.
Further announcements may occur as needed.
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