L’Occitane has announced that it is to be included in the Hang Seng Composite Index (HSCI) and the Hang Seng Consumer Goods and Services Index (HSCGSI), effective September 10, 2018. The move follows a consultation by Hang Seng Indexes enabling foreign companies with a primary listing in Hong Kong to be eligible for inclusion.
The HSCI is a Hong Kong benchmark covering the top 95th percentile of the total market capitalization of companies listed on the Main Board of the Stock Exchange of Hong Kong.
“We greatly welcome the inclusion of eligible foreign companies in these indices,” said Reinold Geiger, Chairman and CEO of L’Occitane. “Hong Kong has been a great listing home for L’Occitane and this decision better reflects the city’s status as a global finance center.
“The group’s inclusion in this widely benchmarked index represents the market’s recognition of our professionalism and financial stewardship, and places us within the investment universe of a larger number of institutional investors, which could drive further liquidity and visibility. We remain focused on our long-term strategies to deliver profitable growth and lasting value for our shareholders.”