Jun 14, 2017 (LBO) - The Colombo Stock Exchange (CSE) 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 re-balance.
A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual re-balance 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 2017) are presented below in alphabetical order.
Exclusions
| No. |
Company |
CSE Ticker |
| 1 |
Asiri Hospital Holdings PLC |
ASIR.N0000 |
| 2 |
Cargills Ceylon PLC |
CARG.N0000 |
| 3 |
Dialog Axiata PLC |
DIAL.N0000 |
Inclusions
| No. |
Company |
CSE Ticker |
| 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 20largest 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 capitalization, 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 capitalization 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 2017 the stocks in the S&P SL 20 in alphabetical order (including four non‐voting ordinary shares) are as follows.
| No. |
Constituent |
CSE Ticker |
| 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 |
