Isentia and Sky Network Television fall out of ASX200
Isentia Group and Sky Network Television NZ have fallen off the Australian Security Exchange’s ASX200, as part of changes to the S&P Dow Jones indices today.
The ASX200 is a benchmark index consisting of the 200 largest companies by market capitalisation listed on the ASX.
Isentia Group’s (ASX: ISD) removal from the ASX200 comes a week after it revealed its latest financial results, which included a “disappointing” loss of $24m due to flat revenues and a write down of its King Content business.
Prior to the August 1 announcement, which indicated the company had written down King Content’s value, the company was trading at $2.22, valuing the company at $444m.
Within the first few minutes of trading, the share price fell nearly 20%, with the company losing more than $80m from its market capitalisation.
Currently, Isentia is trading at $1.76, with a market capitalisation of $363m.
Sky Network Television (ASX: SKT) has also fallen off the ASX200, with a major decline over the last month.
The company is down 59 cents from August 1, with a market capitalisation of NZ$1.09b (AU$985.69m)
Last year, the company merged with Vodafone New Zealand.
Changes will be effective from September 18.
