To ensure the consistency of the index, China Securities Index Co., Ltd. (CSI) will modify the CSI 300 Index when the following conditions are met:
(1) Ex-dividend: if a constituent is going to exclude dividend (dividend distribution), no modification will be made on the CSI 300 Index, which will undergo a natural decline, while the CSI 300 Total Return Index will be modified according to the reference ex-dividend price before the ex-dividend day of the constituent;
(2) Ex-right: if a constituent is going to distribute bonus shares or allot shares, the index will be modified before the ex-right base day of the constituent. The adjusted market capitalization of the constituent will be calculated according to the new issued shares and market capitalization.
Adjusted market capitalization after modification = ex-right quote × adjusted issued shares after ex-right + adjusted market capitalization before modification (excluding ex-right stocks).
(3) Trading suspension: if a constituent is under trading suspension, the real-time index will be calculated according to the constituent’s closing price before trading suspension till its trading resumption;
(4) Change of total issued shares: if there is a change (change in total issued shares due to additional shares issuance, listing of allotted shares, listing of employee shares, etc.) in the total issued shares of a constituent, the index will be modified before the day of change.
Adjusted market capitalization after modification = closing price × adjusted issued shares after the change + adjusted market capitalization before modification (excluding changed stocks).
(5) Adjustment to constituents: if the regular or temporary adjustment to the constituents takes place, the index will be modified before the effective day of adjustment.
Source: China Securities Index Co., Ltd.
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