CSE announces changes to S&P index

Stock-Market-lbo

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