As announced by S&P Dow Jones Indices, effective from 19 December 2016 (after the market close of 16 December 2016), Ceylinco Insurance PLC (CSE Ticker: CINS) 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 (CSE Ticker: TJL).
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%, 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 (GICS®), 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 (Rs), a six-month average daily value traded of Rs 1 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.
For further information, including the complete methodology, please visit: www.spindices.com
Effective from 19 December 2016 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.
About CSE
The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and is responsible for providing a transparent and regulated environment where companies and investors can come together.
The CSE is a company that is limited by guarantee established under the Laws of Sri Lanka.
The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 20 Trading Members.
All Members and Trading Members are licensed by the SEC to operate as Stockbrokers.
For more information, please visit: www.cse.lk.
