This decision was made by the FTSE/JSE Advisory Committee and it is effective from 22 June 2015. This is a significant milestone for MMI as the company now ranks as one of the 40 largest companies listed on the JSE by market capitalisation.
Market capitalisation refers to the number of shares in issue (currently 1.572 billion) multiplied by the ruling share price. The determination was done at the close of business on 25 May 2015, and at that stage the share price was R32.39, giving a market capitalisation of R50.9bn.
Being in the JSE top 40 means that the company is now exposed to more potential investors including index tracker funds and other funds with limited mandates.
