In a meeting held last night, the Index Committee of Qatar Stock Exchange (QSE) announced that has decided to temporarily remove Ezdan Holding Group Co. from the components of QSE Index in light of Ezdan EGM decision in principle to transform it from a public shareholding company to a private joint stock company.
The Index Committee decided that the effective date of the removal will be as of the closing of the trading session on May 29th, after QFMA approval. Ezdan weight will be proportionately redistributed to the remaining index constituents of QE Index and QE Al Rayan Islamic Index.
The committee decision was taken based on the provision in the Index Methodology providing for the Committee to make operational adjustments to the index on an exceptional basis if required in order to maintain a fair and orderly market and/or is in the best interest of the investors and/or for proper functioning of the markets.