A2 Corp to join top 50 index, toppling PGG Wrightson from benchmark

Alternative milk marketer A2 Corp is set to join the NZX 50 index after qualifying in the February review, and will topple rural services firm PGG Wrightson from the benchmark bourse.

The change will come into effect from the open of trading on March 18, stock exchange operator NZX said in a statement. Shares in Wrightson rose 2.6 percent to 40 cents in trading today, while A2 was unchanged at 56 cents.

Wrightson is controlled by NYSE-listed Chinese agriculture firm Agria Corp, and has a market capitalisation of $301.9 million.

A2’s cornerstone shareholders sold down their stakes in a capital raising last year, and has a market cap of $362 million.