When a company expands its listing, the number of shares – and thus the listed share capital – increases.

Example increase in the numer of shares

Initial situation:
Company B
Starting value: 1,000
Starting capitalization: 141,500,000
Adjustment factor (AF): 1.00
Number of shares: 6,000,000
Price/share: 10.00 EUR

CompanyNumber of sharesFFFRFPriceIndex capitalization
in EUR
SHARE A10.000.0000.600.9012.0064,800,000
SHARE B6.000.0000.501.0010.0030,000,000
SHARE C7.000.0000.200.7015.0014,700,000
SHARE D8.000.0000.501.008.0032,000,000
Total index capitalization141,500,000

Increase in the number of shares company B:
New number of shares: 11,000,000

CompanyNumber of sharesFFFRFPriceIndex capitalization
in EUR
SHARE A10.000.0000.600.9012.0064,800,000
SHARE B11.000.0000.501.0010.0055,000,000
SHARE C7.000.0000.200.7015.0014,700,000
SHARE D8.000.0000.501.008.0032,000,000
Total index capitalization166,500,000

Formula (in German):

After the adjustment:
New number of shares SHARE B: 11,000,000 - Number of shares increases
Total index capitalization: 165,500,000 - Total index capitalization increases
Adjustment factor (AF): 0.84985 - adjustment factor decreases
Index value: 1,000 - index value unchanged

Index calculation