S&P Dow Jones Indices will replace Aurora Oil & Gas Limited (ASX: AUT) on the S&P/ASX 200 with Steadfast Group Limited after the close of trade on 27 May.

Aurora Oil is to be removed from the index subject to shareholder and final court approval of the proposed scheme of arrangement under which the company will be acquired by Baytex Energy Australia Pty Ltd.

Robert Kelly, managing director & CEO of Steadfast said: “We are thrilled with this important milestone which has come less than 12 months after our IPO.”

Steadfast listed on ASX in August last year, opening with $1.35, which was more thasn its initial public offer price of $1.15. Yesterday, the share price closed at $1.56.

Austbrokers, which listed in November 2005,  closed at $10.21.