New Zealand’s first IT company stock index
The 4i’s of Solution 6
- New Zealand’s first IT
company stock index established –
- Launch of 4i website
–
Sydney, 9th August, 2000: Solution 6 Holdings Limited (ASX:SOH), a world leading supplier of IT solutions to business professionals and their clients, and innovator in ASP services, today officially launched 4i.
4i, the “Iguana Internet and Information Technology Index,” tracks the performance of New Zealand’s publicly listed Internet and Information Technology related companies.
Until now, no index has provided an industry specific benchmark for New Zealand’s rapidly expanding publicly listed IT sector.
The index draws its constituents from the 24 IT companies listed on the New Zealand Stock Exchange’s Main board, Unlisted Market and New Capital Market.
Adam Rands, Solution 6’s Financial Services Producer said that 4i will deliver a reliable performance measurement of New Zealand’s technology sector.
“It will be of use to all sections of the investment community,” Mr Rands said. “We expect 4i to be a benchmark from which the New Zealand IT industry can be measured against the performance of the wider market.”
Weighted Index
Mr Rands said that 4i is a weighted
index with the stock movements of the larger listed
companies having a greater effect upon the value of the
index than the movements of the smaller players.
“However due to the great disparity of the
capitalisations of securities within 4i the weighting of
larger constituents is artificially limited,” Mr Rands
said.
“This ensures that the index more accurately reflects the status of New Zealand IT stocks and the local IT industry. Unlike most indexes, the weighting of any one stock within the index can not exceed 15%. This removes the heavy bias from the larger capitalised stocks and allows the movements of smaller IT companies to be reflected in the index.”
http:// 4i.co.nz
The 4i website displays the
latest 4i value (updated every 5 minutes), the constituents
of the index, the impact each company is having on the
current day’s 4i movement and a brief dossier on the
activities of each company listed in the index. Membership
and calculation rules can be found at the website.
Mr Rands said that the website also offers the 4i4u Service which is provided free to any broking firm, company or individual who operates a website to allow them to display the latest 4i value for their visitors.
“Setting up the service is incredibly easy and takes just a few minutes” Mr Rands said.
4i Facts
Started at a base of
1000 on 1st January 2000
Operational launch on
7th August 2000 at a value of 953.20
The index
peeked at 1142.33 on 13th March 2000
The index
hit its low of 805.96 on 25th May 2000
Telecom
New Zealand is the largest company in the index
NZIJ.co.nz is the smallest company in the index
The index is calculated every 5 minutes between 9am and 4pm
on every NZSE market trading day
4i is a
weighted index. No single security listed in the index can
have greater than 15% weighting
At the time of
this announcement, the index lists 24 securities from 22
companies.
Smart. Business. Partner.
Solution
6 is a world leading e-Business solutions partner to
Professional Advisors, Business and Government across the
three core competencies of e-Commerce, Professional Services
and Business Software. Solution 6 excels in product
capability, delivering end-to-end accounting, financial,
consulting, e-Business, legal, business and government
solutions. Solution 6 maintains market leadership in
Australia, New Zealand, and South Africa in the practice
management, client accounting and taxation markets. The
company also has a strong presence in North America and
Europe. Solution 6 is a leading Application Service Provider
(ASP) innovator and proudly maintains strategic partnerships
with other leading IT&T providers, such as Telstra, IBM,
SAP, Cisco, Sun Microsystems and Microsoft. Solution 6 was
established in 1981 and was publicly listed in 1987.
Solution 6 currently employs over 1600 staff across 13
countries. For more information see
www.solution6.com.
Solution 6 Holdings purchased
Iguana Information Services in November 1999. Leveraging the
Iguana brand, Solution 6 is New Zealand’s premier provider
of share market content and is responsible for the
management and hosting of many of New Zealand’s larger share
market website including the award winning sites Access
Brokerage and StockWatch. Solution 6 manages much of New
Zealand's on-line sharemarket trading activity by providing
its trading platform STORMS to Access Brokerage, Bank of New
Zealand and QuickTrade. Solution 6 has expanded Iguana
services into the Australian market and is delivering its
market information service (via web and WAP) to
Telstra.com.
For more information about the 4i, please visit http://4i.co.nz
For further media information please
contact:
Mark Elliot, Solution 6, Phone: 61 2 9278 0656
or 0419 238 747, email:
mark.elliot@solution6.com
-ends-