As of the 16th March 2012, the REA Group will no longer be part of the prestigious S&P/ASX 300 index. This is a result of a rebalance of the index by Standard and Poor.
The S&P/ASX 300 index is a market-capitalisation weighted and float-adjusted stock market index of Australian stocks listed on the Australian Securities Exchange from Standard & Poor's. The index incorporates all of the companies in the top 200, the S&P/ASX 200 index, and an additional 100 smaller companies, making a total of about 300 components in the index. The index components are reviewed quarterly by Standard & Poor's.
While no information is released as to why the REA Group has been removed from the index, one can only assume that the relatively high shareholding of News Corp and the relatively low free float has lead to this decision.
Recently the other Australian list property portal group, the iProperty Group, was included in the ASX All Ordinaries index.