Five companies, including some mainland developers, will be kicked out from the Hang Seng family of indexes due to the prolonged suspension of their shares.
Developer CIFI (0884) and its property management unit CIFI Ever Sunshine Services Group (1995), along with Redco Properties (1622), Jiayuan International (2768), and investment bank China Renaissance (1911) will be removed from a series of indexes including Hang Seng Composite Index.
These companies' stock prices will be adjusted downward to the lowest system price, namely HK$0.0001, at the market open next Monday and such price will be used for index calculation during the entire day.
These stocks will be removed from the relevant indexes at HK$0.0001 after the market closes on the same day and the corresponding constituent changes will come into effect next Tuesday.
The Hang Seng Indexes Company will announce the results of the latest quarterly review of the Hang Seng family of indexes on August 18.
