Each component stock of a price-weighted index has the same number of shares in the index. Price-weighted is to add the price of each stock in the index together and divide by a divisor to get the value of the index.
The divisor can be any specified number used to generate the initial index value such as 50 or 100. For example, when the index is issued, the stock value adds up to 200. In order to make the initial value of the index 100, the divisor is 2.