Constituent changes to S&P Sri Lanka 20 Index

Thursday, 15 June 2017 00:00 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) yesterday announced the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2017 mid-year index rebalance.

A revision of the S&P SL 20 methodology in March established the practice of a semiannual rebalance of the index (previously conducted annually), which is set to take place during the months of June and December each year.

The revision also established the inclusion of non-voting ordinary shares listed by the respective companies of the S&P SL 20 Index, provided that such shares meet relevant liquidity requirements.

The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 19 June 2017 (after the market close of 16 June) are presented below in alphabetical order.

Exclusions:

1. Asiri Hospital Holdings PLC – ASIR.N0000

2. Cargills Ceylon PLC – CARG.N0000

3. Dialog Axiata PLC – DIAL.N0000

Inclusions:

1. Hayleys PLC – HAYL.N0000

2. Seylan Bank PLC – SEYB.N0000

3. Tokyo Cement Company (Lanka) PLC – TKYO.N0000

The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds.

The constituents are weighted by float-adjusted market capitalisation, subject to a single stock cap of 15%, which is employed to reduce single stock concentration.

The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.

To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalisation of 500 million Sri Lankan rupees, a six-month median daily value traded of rupees 0.5 million, have been traded at least 10 days of each month for the three months prior to the rebalancing reference date, and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, please visit: www.spindices.com

Effective from 19 June the stocks in the S&P SL 20 in alphabetical order (including four non-voting ordinary shares) are as follows:

1. Access Engineering PLC – AEL.N0000

2. Aitken Spence PLC – SPEN.N0000

3. Ceylon Cold Stores PLC – CCS.N0000

4. Ceylon Tobacco Company PLC – CTC.N0000

5. Chevron Lubricants Lanka PLC – LLUB.N0000

6. Commercial Bank of Ceylon PLC – COMB.N0000

7. Commercial Bank of Ceylon PLC Non-Voting – COMB.X0000

8. DFCC Bank PLC – DFCC.N0000

9. Hatton National Bank PLC – HNB.N0000

10. Hatton National Bank PLC Non-Voting – HNB.X0000

11. Hayleys PLC – HAYL.N0000

12. Hemas Holdings PLC – HHL.N0000

13. John Keells Holdings PLC – JKH.N0000

14. Lanka Orix Leasing Company PLC – LOLC.N0000

15. Melstacorp PLC – MELS.N0000

16. National Development Bank PLC – NDB.N0000

17. Nestle Lanka PLC – NEST.N0000

18. People’s Leasing & Finance PLC – PLC.N0000

19. Sampath Bank PLC – SAMP.N0000

20. Seylan Bank PLC – SEYB.N0000

21. Seylan Bank PLC Non-Voting – SEYB.X0000

22. Teejay Lanka PLC – TJL.N0000

23. Tokyo Cement Company (Lanka) PLC – TKYO.N0000

24. Tokyo Cement Company (Lanka) PLC Non-Voting – TKYO.X0000