BM&FBOVESPA launches the Special Corporate Governance Stock Index – Novo Mercado
São Paulo, September 03, 2012 - BM&FBOVESPA starts the real-time calculation and publication today of the Special Corporate Governance Stock Index – Novo Mercado (IGNM).
The new index was created to offer asset managers and the market a specific indicator of the performance of the constituent companies of the Novo Mercado – the Exchange’s highest Corporate Governance standard.
The Special Corporate Governance Stock Index – Novo Mercado (IGNM) portfolio is composed of 127 stocks issued by companies traded on the Novo Mercado and will be recalculated every four months in the same manner as the other BM&FBOVESPA indexes.
The IGNM has gained 54.4% since 2006, the starting base calculated by BM&FBOVESPA. Over the same period, the Special Corporate Governance Stock Index (IGC), made up of companies on the Novo Mercado and at corporate governance Level 1 and Level 2, has risen 40.2% and the Ibovespa 28.3%.
All of the shares issued by companies listed on the BM&FBOVESPA Novo Mercado are eligible for inclusion in the Special Corporate Governance Stock Index – Novo Mercado (IGNM) theoretical portfolio. The shares of new companies will be included after the close of the first regular trading session; and the shares of companies already traded on BM&FBOVESPA will be included after the close of the session prior to their start of trading on the Novo Mercado.
The shares that make up the IGNM will be weighted by multiplying their market capitalization, based on free float, with a company’s participation in the index not permitted to surpass 20% upon admission or in subsequent recalculations.
The base for the IGNM was set at 1,000 points for the date of December 28, 2006.