S&P Dow Jones announces changes in S&P Sri Lanka 20 index

Stock-Market

Dec 16, 2015 (LBO) – S&P Dow Jones Indices has announced the changes in S&P Sri Lanka 20 index constituents effective from December 21, 2015, the Colombo Stock Exchange said.

Accordingly, Bukit Darah, Carson Cumberbatch, Lion Brewery Ceylon and Sri Lanka Telecom will be removed from the S&P Sri Lanka 20 index as they no longer qualify for index inclusion.

Replacements will be Asiri Hospital Holdings, Ceylinco Insurance, Ceylon Cold Stores and Hemas Holdings.

The index includes the largest 20 stocks, 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 percent, which is employed to reduce single stock concentration.

The S&P Sri Lanka 20 has been designed in accordance with international practices and standards.

“All stocks are classified according to the Global Industry Classification Standard which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.” the CSE said.

To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees, a six-month average daily value traded of 1 million rupees, 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.

Effective from December 21, 2015 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.

1. Access Engineering Ltd
2. Aitken Spence PLC
3. Asiri Hospital Holdings PLC
4. Cargills (Ceylon) PLC
5. Ceylinco Insurance PLC
6. Ceylon Cold Stores PLC
7. Ceylon Tobacco Company PLC
8. Chevron Lubricants Lanka PLC
9. Commercial Bank of Ceylon PLC
10. DFCC Bank PLC
11. Dialog Axiata PLC
12. Distilleries Company of Sri Lanka PLC
13. Hatton National Bank PLC
14. Hemas Holdings PLC
15. John Keells Holdings PLC
16. Lanka Orix Leasing Company PLC
17. National Development Bank PLC
18. Nestle Lanka PLC
19. People’s Leasing & Finance PLC
20. Sampath Bank PLC