The Colombo Stock Exchange (CSE) announced yesterday (30) that changes have been made in Standard and Poor’s Sri Lanka 20 (S&P SL20) index constituents made by S&P Dow Jones Indices at the 2022 March ad-hoc index rebalance due to the amalgamation of Commercial Leasing and Finance PLC with LOLC Finance PLC, after which Commercial Leasing and Finance PLC would cease to exist.
The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from today (31) (after the market close yesterday [30]) are Commercial Leasing and Finance PLC – CLC.N000 and Softlogic Life Insurance PLC – AAIC.N0000.
The S&P SL20 index includes the 20 largest companies (by total market capitalisation) listed on the 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.
The S&P SL20 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 Morgan Stanley Capital International (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 capitalisation of Rs. 500 million, a six-month median daily value traded of Rs. 0.25 million, and have a positive net income over the 12 months prior to the rebalancing reference date.
S&P SL20 constituently changed due to CLC, LOLC Fin. amalgamation
31 Mar 2022
S&P SL20 constituently changed due to CLC, LOLC Fin. amalgamation
31 Mar 2022