(Alliance News) - FTSE Russell said on Wednesday that SThree PLC will be added to the FTSE 250 index, replacing Shaftesbury PLC which is being removed.
The changes will be effective from Monday, the index operator said.
Shaftesbury's removal from the FTSE 250 index is subject to court sanctioning of the scheme of arrangement in relation to all-share merger between Capital & Counties Properties PLC and Shaftesbury.
In June last year, the two companies agreed terms for an all-share merger to create a London-focused property investor with a combined portfolio value of GBP5.0 billion. The combined company will be called Shaftesbury Capital PLC.
Capital & Counties will remain in the FTSE 250 index, FTSE Russell added.
By Heather Rydings, Alliance News senior economics reporter
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SThree (STEM)