Constituent Change in the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) Friday announced the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2023 year-end rebalance.The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 18th Dec 2023 (after the market close of 15th Dec 2023) are presented below.

CSE said 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 MCSI and is widely used by market participants throughout the world,” a CSE news release said.

“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 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date.”

Effective from December 8, 2023 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.