4 new companies were added to the MSCI Frontier main index while 1 is deleted.
K‐electric (KEL) and Pakistan Tobacco (PKAT) are the new introduction while Lucky Cement (LUCK) and Pakistan State Oil (PSO) are upgraded from small cap index. On the other hand, Hub Power (HUBC) is to deleted from the main index and downgraded to small cap index.
In the small cap index, there are 27 additions to and 39 deletions. Of the total, 9 new companies are of Pakistan, whereas 3 are deleted.
Besides, HUBC, which was downgraded from the main index, there were 8 new introductions from Pakistan. These companies include Abbot Lab (ABOT), Dawood Hercules (DAWH), Fauji Cement (FCCL), Habib Metro Bank (HMB), IGI Insurance (IGIIL), National Foods (NATF), Packages (PKGS) and Shell Pakistan (SHEL). Of the 3 deleted, two (PSO and LUCK) were upgraded to main index, while ICI Pakistan (ICI) was the only company to be eliminated from the MSCI.