S&P SL20 includes Ceylinco Ins, Melstacorp, Softlogic Holdings & Vallibel One

Jun 15, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance.

A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually) and the rebalance of the index now takes 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 18 June 2018 (after the market close of 14 June 2018) are presented below in alphabetical order.

Exclusions

No. Company CSE Ticker
1 Ceylon Cold Stores PLC CCS.N0000
2 Ceylon Tobacco Company PLC CTC.N0000
3 Nestle Lanka PLC NEST.N0000
4 Seylan Bank PLC SEYB.N0000
SEYB.X0000

Inclusions

No. Company CSE Ticker
1 Ceylinco Insurance PLC CINS.N0000
2 Melstacorp PLC MELS.N0000
3 Softlogic Holdings PLC SHL.N0000
4 Vallibel One PLC VONE.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 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 MSCI 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 (Rs), a six-month median daily value traded of Rs 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.

Effective from 18 June 2018 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.

COMPANY TICKER
Access Engineering PLC AEL.N0000
Aitken Spence PLC SPEN.N0000
Ceylinco Insurance PLC CINS.N0000
Chevron Lubricants Lanka PLC LLUB.N0000
Commercial Bank of Ceylon PLC COMB.N0000
Commercial Bank of Ceylon PLC Non-Voting COMB.X0000
DFCC Bank PLC DFCC.N0000
Dialog Axiata PLC DIAL.N0000
Hatton National Bank PLC HNB.N0000
Hatton National Bank PLC Non-Voting HNB.X0000
Hemas Holdings PLC HHL.N0000
John Keells Holdings PLC JKH.N0000
Lanka Orix Leasing Company PLC LOLC.N0000
Melstacorp PLC MELS.N0000
National Development Bank PLC NDB.N0000
People’s Leasing & Finance PLC PLC.N0000
Richard Pieris & Company PLC RICH.N0000
Sampath Bank PLC SAMP.N0000
Softlogic Holdings PLC SHL.N0000
Teejay Lanka PLC TJL.N0000
Tokyo Cement Company (Lanka) PLC TKYO.N0000
Tokyo Cement Company (Lanka) PLC Non-Voting TKYO.X0000
Vallibel One PLC VONE.N0000