Referring to Announcement of Indonesia Stock Exchange (IDX) No. Peng-00270/BEI.POP/11-2023 dated 29 November 2023, PT Selamat Sempurna Tbk (SMSM) became one of the stock member in IDX Sharia Growth (IDXSHAGROW) Index for the period of December 2023 to May 2024.
Short brief about IDX Sharia Growth Index
On October 31, 2022, IDX issued the IDX Sharia Growth (IDXSHAGROW) Index, which is an index that measures the sharia stock price performance of 30 stocks that have a growth trend in stock prices relative to net profit and revenue with high trading liquidity and good fundamentals.
The IDX Sharia Growth Index calculation method uses the Capped Free-Float Adjusted Market Capitalization Weighted Average. This index uses the free float market capitalization as the weight by imposing a capping on a stock in the highest index of 15% at the time of evaluation. IDX sets the base date for the IDXSHAGROW Index on June 1, 2016 with a base value of 100.
IDX will conduct 2 types of periodic evaluations of the IDX Sharia Growth Index, which are Major Evaluations which include evaluations of constituents and readjustments to the weight of stocks in the index. Next is the Minor Evaluation which only includes a readjustment of the weight of stocks in the index. Major Evaluation of the IDX Sharia Growth Index will be conducted at the end of May and November, which will be effective every first Exchange Day in June and December. Minor evaluations for the index are carried out at the end of February and August, which will then be effective every first Exchange Day in March and September.