FTSE Russel has proposed to re-add Xiaomi Corporation and Luokung Technology Corp. to its Global Equity Index Series, according to press release. The proposal is subject to a determination by the District of Columbia to classify the companies within the scope of Executive Order 13959.
FTSE Russel proposes Xiaomi to be added to associated market capitalisation weighted indexes in two equal tranches from 7th June 2021.
Luokung is to be added to the FTSE GEIS micro-cap, subject to June 2021 evaluation.
Both companies will be evaluated for index eligibility in the non-market capitalisation category subject to the next index series review.
Xiaomi will be evaluated for FTSE China 50 index eligibility in conjunction with a June 2021 review.
FTSE Russell is expected to give an updated notice on the subject if ruling by the U.S District Court is out by 28th May 2021.
Xiaomi and Luokung stocks are currently gaining. 1810: HKG is up 4.13%, LKCO: NASDAQ is up 8.40% on premarket.
