| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| G1 Scope, precedence and principles · 4 fields | |||
| Corporate event definition | Events or news affecting index value through corporate activities such as paid-in or free capital increases, splits and mergers, rather than price movements caused by supply and demand. | 구성종목의 이벤트는 수요와 공급에 의한 주 가변동이 아니라, 유·무상증자, 분할·합병 등 기업의 다양한 활동으로 지수값 에 영향을 미치는 사건 또는 뉴스를 의미합니다.Open p.2 ↗ |
A constituent event is an event or news item that affects index value through various corporate activities, rather than price fluctuations caused by supply and demand. |
| Covered indices | Stock price indices calculated by KRX | 이 방법론은 KRX가 산출하는 주가지수에 포함된 구성종목의 이벤트를 지수 에 반영하는 방법을 제시합니다.Open p.2 ↗ |
This methodology covers events affecting constituents included in stock price indices calculated by KRX. |
| Precedence rule | Individual index methodologies may apply event treatments differently; for events not addressed, KRX may use the most appropriate method and may depart from the methodology in special cases. | 여기서 제시하는 이벤트별 처리 방법은 일반적으로 적용하는 내용이며, 사안 별로 지수에 따라 다르게 적용될 수 있습니다. 해당사항은 개별 지수의 방법 론을 참고하시기 바랍니다.Open p.2 ↗ |
These event treatments apply generally, but individual index methodologies may differ, and KRX may handle unspecified or special events differently based on user convenience and market impact. |
| Administrator | KRX | 이 방법론은 KRX가 산출하는 주가지수에 포함된 구성종목의 이벤트를 지수 에 반영하는 방법을 제시합니다.Open p.2 ↗ |
The administrator issuing the methodology is KRX. |
| G4 Corporate events · 11 fields | |||
| Divisor adjustment rule | When corporate events occur, base market capitalisation is adjusted to accurately reflect market conditions and prevent index discontinuity; indices applying an adjusted weighting factor adjust that factor instead. | 기업이벤트가 발생할 경우 시장상황을 정확히 반영하고 지수의 단층을 방지 하기 위해서 다음과 같이 기준시가총액을 수정합니다.Open p.2 ↗ |
KRX adjusts base market capitalisation, or the adjusted weighting factor where applicable, to prevent an index discontinuity from corporate events. |
| Special purpose acquisition company merger | When a special purpose acquisition company is extinguished by merger, comparative market capitalisation changes by the number of post-merger surviving-company shares times the base price on the listing date, and index constituent shares change by the listed shares. | 기업인수목적회사가 합병으로 소멸하는 경우 합병 후 존속법인이 발행한 주 식의 상장일에 상장주식수(+)x기준가만큼 비교시가총액이 변동되고, 상장주 식수(+)만큼 지수채용주식수가 변동됩니다Open p.8 ↗ |
A merger extinguishing a SPAC is reflected on the post-merger surviving company's share listing date using the base price. |
| Bonus and split | Bonus issue: On the ex-rights date, index constituent shares increase by the bonus shares with no change in comparative market capitalisation; Stock dividend: On the ex-dividend date, index constituent shares increase by the dividend shares with no change in comparative market capitalisation; Par value split or merge: On the relisting date after par-value change, index constituent shares are changed to match the listed shares, with no change in comparative market capitalisation | 무상증자의 경우 기업가치 변동이 없으므로 비교시가총액 변동없이 지수채용 주식수만 권리락일에 증가합니다.Open p.5 ↗ |
Free capital increases and stock dividends increase the index share count on the applicable ex-date without changing market capitalisation; par-value splits or mergers update the share count on the relisting date without changing market capitalisation. |
| Rights issue | Rights offer to existing shareholders: On the ex-rights date, index constituent shares increase by the new shares and comparative market capitalisation increases by the paid-in amount; Unsubscribed shares: On the new-share listing date, index constituent shares and comparative market capitalisation are reduced by the unsubscribed shares; if all shares are unsubscribed, the full increase is reversed as soon as practicable after KRX becomes aware; Public offering or third party allotment: On the new-share listing date, index constituent shares and comparative market capitalisation increase by the newly issued shares at the prior day's closing price; Preferred share rights offer: Common shares also go ex-rights, but common-share index count is unchanged while comparative market capitalisation decreases | 권리락일에 증자주식수만큼 지수채용주식수가 증가하며, 유상증자 납입금액 만큼 비교시가총액이 증가합니다.Open p.3 ↗ |
Paid-in capital increases are reflected according to their type, generally increasing index shares and market capitalisation, with adjustments for unsubscribed shares and special treatment for preferred-share offerings. |
| Other share changes | Conversions of preferred shares, convertible bonds, stock options and warrant exercises are reflected by adding the increased shares to the index constituent share count on the new-share listing date. | 우선주를 보통주로 전환하거나 전환사채를 보통주로 전환하는 경우, 신주인 수권을 행사하거나 스톡옵션을 행사하는 경우에는 신주상장일에 증가하는 주식수를 지수채용주식수에 반영합니다.Open p.5 ↗ |
On the new-share listing date, shares added through preferred-share conversions, bond conversions, warrant exercises or stock-option exercises are included in the index constituent share count. |
| Capital reduction | Capital reduction without consideration: Market capitalisation and index shares are held unchanged on the first trading day after the reduction; from the following day, index shares are reduced and market capitalisation changes by the post-resumption difference; Capital reduction with consideration: Market capitalisation is fixed on the trading resumption day and index shares are reduced from the following day; Treasury stock retirement: On the relisting date after retirement, index constituent shares and comparative market capitalisation decrease by the retired shares at the prior day's closing price | 구성종목이 무상감자를 하는 경우 매매거래정지 직전 주가 대비 매매거래재 개일의 주가 변동성이 크기 때문에 감자 후 첫 매매거래일에는 지수 내 시 가총액이 변동되지 않도록 합니다. |
Capital reductions keep market capitalisation fixed on the trading resumption day and adjust shares thereafter, while treasury stock retirement reduces shares and market capitalisation on the relisting date. |
| Merger acquisition | On the merger new-share listing date, index constituent shares and comparative market capitalisation increase by the merger shares; timing may move to the suspended target's trading halt start date when required by an index methodology or ad hoc review, with the target's shares set to zero. | 합병신주상장일에 합병으로 인해 증가하는 주식수만큼 지수채용주식수가 증가 하고 비교시가총액은 증가합니다.Open p.7 ↗ |
Mergers, including comprehensive share exchanges and transfers, are normally reflected on the new-share listing date, but may be reflected at the target company's trading-halt start date in specified cases. |
| Spin off | Spin off by distribution: The surviving company's market capitalisation is fixed at the pre-split level on the first trading day after the split; from the next day, index shares decrease by the split shares and market capitalisation changes by the post-split difference; Spin off to wholly owned subsidiary: Because the parent retains all shares of the new company, index constituent shares remain unchanged and there is no index adjustment | 신설법인과 존속법인의 주주와 지분율이 분할 전과 동일한 인적분할의 경우 존속법인은 분할 후 첫 매매거래일 하루동안 시가총액이 분할전 시가총액으 로 고정됩니다.Open p.8 ↗ |
An equitable spin-off is reflected similarly to a capital reduction without consideration, while a physical spin-off into a wholly owned subsidiary leaves the parent's index share count unchanged. |
| New listing | A newly listed stock is added on the trading day after the listing date at the new listing date's closing price. | 신규상장일(t) 다음 매매거래일(t+1일)에 구성종목으로 편입하며, 편입 시 가격은 신규상장일 종가를 적용합니다.Open p.3 ↗ |
New listings are added as constituents on the trading day after the listing date, using the listing date's closing price. |
| Delisting | A constituent is removed on the delisting date using the closing price of the day before the delisting date. | 상장폐지일에 구성종목에서 제외하며, 제외 시 가격은 상장폐지일 전일의 종가 를 적용합니다.Open p.3 ↗ |
Delisted constituents are excluded on the delisting date at the prior day's closing price. |
| Transfer of listing | When a KOSDAQ-listed company transfers to the KOSPI market, or vice versa, it is added to the index on the transfer listing date using the closing price immediately before the transfer. | 다만, 코스닥시장 상장법인이 유가증권시장으로 이전상장하는 경우 또는 그 반대의 경우에는 신규상장 당일(t일)부터 지수에 편입하며, 편입 시 가격은 이전상장 직전의 종가를 적용합니다.Open p.3 ↗ |
A transfer between KOSDAQ and KOSPI is reflected in the index on the transfer listing date at the closing price immediately before transfer. |
Open points · 13Model-written, for reference
- 1No rulebook version label was stated.
- 2No effective date was stated.
- 3No explicit list of index-administration guiding principles was stated beyond general event-handling objectives.
- 4Cash dividend treatment in a price index was not stated; only stock dividends were covered.
- 5General treatment of suspended constituents outside capital-reduction, merger and spin-off trading-halt procedures was not stated.
- 6Risk-warning designation treatment was not stated.
- 7Bankruptcy or court-reorganisation treatment was not separately stated.
- 8Not coveredG2 Calculation and publication: not covered by this edition
- 9Not coveredG3 Prices and market data: not covered by this edition
- 10Not coveredG5 Shares, free float and weight factors: not covered by this edition
- 11Not coveredG6 Disruption, emergencies and corrections: not covered by this edition
- 12Not coveredG7 Review and constituent changes: not covered by this edition
- 13Not coveredG8 Governance, changes and termination: not covered by this edition
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