(Updates with listing reclassification in third paragraph.)
Dec. 7 (Bloomberg) -- British American Tobacco Plc will be included in the Johannesburg Stock Exchange’s Top 40 index from Dec. 19, replacing ArcelorMittal South Africa Ltd., after a quarterly review of companies’ index weightings.
BAT will carry the highest weighting in the index, replacing MTN Group Ltd., JSE Ltd., which runs the exchange, said in a stock exchange statement.
The exchange also reclassified 32 companies, including BAT, as domestic securities, following the easing of rules restricting foreign stock ownership in the Treasury’s mid-term budget on Oct. 25. The companies were previously classified as “inward foreign listings” and counted as foreign shares in terms of prudential limits for local fund managers.
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