For long term holders, inclusion in the ASX200, ASX100, ASX50, and then the ASX20 would spell out that there had been phenomenal success for the company.
However, I don't think that absolute market capitalisation is the only factor that forms part of the consideration for entering these indices. Having done extensive investigation (consulted Wikipedia), there is a weighting given to the market cap based on the following:
"A stock's weight in the index is determined by the float-adjusted market capitalization of the stock. This is a function of current index shares, the latest available stock price and the Investable weight factor (IWF). The IWF represents the float-adjusted portion of a stock's equity capital.... Shares owned by founders, directors of the company ... are also excluded. These are also deemed strategic holders, and are considered long-term holders of a stock's equity. Any strategic shareholdings that are greater than 5% of total issued shares are excluded from the relevant float."
In the case of PPK, directors hold 25% of shares, these exclusions are significant relative to many other companies of similar market cap, and hence their absolute market cap needs to be much higher (by one-third) relative to these other companies to meet the weighted capitalisation test. For example, if $2b is the relevant market cap for the ASX200, then PPK would need to be at $2.66b to be equivalent. Then there is a liquidity test as well.
Just something to consider.
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PPK
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32.5¢

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Last
32.5¢ |
Change
-0.025(7.14%) |
Mkt cap ! $29.51M |
Open | High | Low | Value | Volume |
35.0¢ | 35.0¢ | 31.5¢ | $26.10K | 80.71K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 57170 | 31.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
36.0¢ | 44961 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 57170 | 0.315 |
1 | 62589 | 0.305 |
3 | 17280 | 0.300 |
1 | 1661 | 0.295 |
1 | 6896 | 0.290 |
Price($) | Vol. | No. |
---|---|---|
0.325 | 200 | 1 |
0.360 | 44961 | 1 |
0.370 | 2074 | 1 |
0.385 | 49361 | 1 |
0.400 | 15411 | 1 |
Last trade - 16.10pm 07/07/2025 (20 minute delay) ? |
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AGC
AUSTRALIAN GOLD AND COPPER LTD
Glen Diemar, MD
Glen Diemar
MD
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