CTC, Richard Pieris out; Expolanka, Melstacorp in
The Colombo Stock Exchange (CSE) on 21 June, announced the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2019 mid-year index rebalance.
A revision of the S&P SL 20 methodology in March 2017 established the practice of a semi-annual rebalance of the index (previously conducted annually), which 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 24 June 2019 (after the market close on 21 June 2019) are presented below in alphabetical order.
The S&P SL 20 index includes the 20 largest companies, by total market capitalisation, listed on CSE that meet minimum size, liquidity, and financial viability thresholds. The constituents are weighted by float-adjusted market capitalisation subject to a single stock cap of 15%, which is employed to reduce single stock concentration.