WSE launches strong tech sector creates new investment opportunities as WSE launches new index portfolio
The Warsaw Stock Exchange has announced the first index portfolio for its new index, WIGtech.
The WIGtech index will be operational from the 24th June and will cover WIG participants whose core business includes medicine, biotechnology, software development, online and mobile sectors.
Izabela Olszewska, GPW Management Board Member said: “Following the launch of macro-sector indices, we have decided to calculate and publish WIGtech covering technology companies. The new index addresses current trends in the economy and on the capital market.
“High-tech companies play an increasing role in the economy and on the exchange. GPW provides funding opportunities to innovative companies which are instrumental to technological progress.
“As trading venues, exchanges are also highly specialised providers of state-of-the-art solutions which improve the quality of available services. As a part of its strategic objectives, GPW develops technologies in order to strengthen our competitive advantage.”
WIGtech is a price index, the reference value is 10,000 points. The index will be published on a continuous basis, with updates occurring every minute. The index portfolio will be subject to change on a quarterly basis, coinciding with modifications of the other indices.
The number of WIGtech participants will vary. The share of each participant will be calculated depending on its free float, the amount of shares that are in the public’s hands. The share of the biggest companies will be capped at 10 percent.
“It is our intention that WIGtech soon becomes the underlying of futures or other financial instruments. We believe that the new index will attract investor interest,” said Olszewska.