TIM Export Index, which was jointly formed by Turkish Exporters Assembly (TIM) and Istanbul Stock Exchange (BIST), now to be traded on Istanbul Stock Exchange. The gong ceremony was organized in the headquarters of Stock Exchange, Istanbul. TIM Chairman Ismail GULLE and BIST General Manager and Board Member Murat CETINKAYA made the opening speeches after the ceremony.
The index consists of the top 1000 exporters listed by TIM each year, with a public market value above a certain level.
The market value of the companies should be over 50 million TL
GULLE stated that they have created TIM Export Index with BIST in order to show the success performance of exporting companies and gave information about the certain conditions for being listed in this index.
“Basically, in order for a company to be listed in TİM Export Index, it must be one of the top 1000 exporters of TİM and also must be listed in the “BIST Stars Market” or “BIST Main Market” in the stock exchange.
However, we also thought our firms whom are not directly exporting but also doing export registered sales. If the export registered sales of these companies are as high as the export revenues of the top 1000 companies, we will take them to this index. Finally, 3 month average of the market value of the share of this companies have to be over 50 million.
If a company is a newborn IPO and fulfill these conditions, we also let them to be listed in the “TIM Export Index”
55 companies are in TIM Export Index
GULLE stated that 55 exporters now provide these conditions and listed in the TIM Export Index and this number will increase with the new IPO's. “If we had established this index in 2013, the total yield would be 160 percent, which is far better than the other indexes such as BIST100 and BIST Industrial. This is why TIM Export Index is very important” he added.
10 percent weight limitation will be applied to the index.
In the index, 10 percent weight limitation will be applied. In the first working days of February, May, August and November, the weights within the index will be revised to a maximum limit as 10 percent. In addition, if the weights of shares is more than 13 percent at the end of each working day, these weights will be reduced to 10 percent without waiting for the beginning of the period.