NASDAQ OMX (NASDAQ: NDAQ) today announced the expansion of NASDAQ OMX Iceland’s leading index, OMX Iceland 6 (OMXI6ISK), from six companies to eight. The update will become effective at the market open on 1 July 2014 as part of the semi-annual review of the index. At the same time the name and symbol of the index will be updated to reflect the increased number of constituents. The new name of the index will be OMX Iceland 8 (OMXI8).
“The rebuilding of the Icelandic equity market is proceeding at a steady pace. Recent listings have transformed the market and the IPO pipeline is promising. The expanded OMX Iceland 8 index reflects the progress made in recent years,” said Magnus Hardarson, Vice President, NASDAQ OMX Iceland.
The OMX Iceland 8 index is NASDAQ OMX Iceland’s leading index and consists of the eight most liquid shares on the Exchange. The weight of the shares is based on the free float adjusted market value, which means that only the part of the share capital that is considered available for trading is included in the index.