More cement firms on MSCI indexes

 More cement firms on MSCI indexes
08 November 2024


According to Topline Pakistan Research, a few Pakistan stocks, including cement, will likely be added to the MSCI indexes. The analyst adds that MSCI is scheduled to announce its November 2024 Index review on 6 November 2024, effective 26 November 2024.

Likely additions in November 2024 Review:
In November 2024, it is expected that the likely addition of four stocks: Fauji Cement, Cherat Cement, Fauji Fertilizer Bin Qasim, and Kohat Cement. The free float market caps of these stocks as of 31 October 2024, are US$101m, US$106m, US$107m, and US$79m, three of which are much higher than the anticipated free float threshold of US$77m.

There are also two other companies with free float exceeding US$69m (previous criteria): Pioneer Cement, US$71.6m, and Fatima Fertilizer (FATIMA), US$72.4m.

After that, Pakistan weight is likely to increase to 5.0-5.2 per cent from the earlier 4.4-4.6 per cent after the likely addition of the above four scrips and the increase in the market cap of existing constituents by ~12 per cent.

by Abdul Rab Siddiqi

Published under Cement News