Teejay Lanka replaces Ceylinco Insurance in new S&P SL20 rebalance

Dec 15, 2016 (LBO) – Colombo Stock Exchange today announced changes to the S&P Sri Lanka 20 index made by S&P Dow Jones Indices at the 2016 annual index rebalance. As announced by S&P Dow Jones Indices, effective from 19 December 2016 (after the market close), Ceylinco Insurance will be removed from the S&P Sri Lanka 20 index as it no longer qualifies for index inclusion. The replacement will be Teejay Lanka PLC. 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. 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 19 December 2016 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows. 
1 Access Engineering PLC
2 Aitken Spence PLC
3 Asiri Hospital Holdings PLC
4 Cargills (Ceylon) PLC
5 Ceylon Cold Stores PLC
6 Ceylon Tobacco Company PLC
7 Chevron Lubricants Lanka PLC
8 Commercial Bank of Ceylon PLC
10 Dialog Axiata PLC
11 Hatton National Bank PLC
12 Hemas Holdings PLC
13 John Keells Holdings PLC
14 Lanka Orix Leasing Company PLC
15 Melstacorp Ltd
16 National Development Bank PLC
17 Nestle Lanka PLC
18 People's Leasing & Finance PLC
19 Sampath Bank PLC
20 Teejay Lanka PLC
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