ECONOMYNEXT – The Colombo Stock Exchange (CSE) has included Hayleys, Seylan Bank and Tokyo Cement Company (Lanka) in the S&P Sri Lanka 20 index, which tracks the top 20 largest and most liquid stocks.
They replaced Asiri Hospital Holdings, Cargills Ceylon and Dialog Axiata a semiannual rebalance of the index, previously conducted annually, decided in March 2017 and taking place during June and December each year, the bourse said in a statement.
“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,” it said.
The exclusions and inclusions as announced by S&P Dow Jones Indices are effective from 19 June 2017.
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 CSE said 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.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees, a six-month median daily value traded of rupees 0.5 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.
Effective from 19 June 2017 the stocks in the S&P SL 20 in alphabetical order (including four non‐voting ordinary shares) are as follows.
No. Constituent CSE Ticker
1 Access Engineering PLC AEL.N0000
2 Aitken Spence PLC SPEN.N0000
3 Ceylon Cold Stores PLC CCS.N0000
4 Ceylon Tobacco Company PLC CTC.N0000
5 Chevron Lubricants Lanka PLC LLUB.N0000
6 Commercial Bank of Ceylon PLC COMB.N0000
7 Commercial Bank of Ceylon PLC Non-Voting COMB.X0000
8 DFCC Bank PLC DFCC.N0000
9 Hatton National Bank PLC HNB.N0000
10 Hatton National Bank PLC Non-Voting HNB.X0000
11 Hayleys PLC HAYL.N0000
12 Hemas Holdings PLC HHL.N0000
13 John Keells Holdings PLC JKH.N0000
14 Lanka Orix Leasing Company PLC LOLC.N0000
15 Melstacorp PLC MELS.N0000
16 National Development Bank PLC NDB.N0000
17 Nestle Lanka PLC NEST.N0000
18 People's Leasing & Finance PLC PLC.N0000
19 Sampath Bank PLC SAMP.N0000
20 Seylan Bank PLC SEYB.N0000
21 Seylan Bank PLC Non-Voting SEYB.X0000
22 Teejay Lanka PLC TJL.N0000
23 Tokyo Cement Company (Lanka) PLC TKYO.N0000
24 Tokyo Cement Company (Lanka) PLC Non-Voting TKYO.X0000
They replaced Asiri Hospital Holdings, Cargills Ceylon and Dialog Axiata a semiannual rebalance of the index, previously conducted annually, decided in March 2017 and taking place during June and December each year, the bourse said in a statement.
“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,” it said.
The exclusions and inclusions as announced by S&P Dow Jones Indices are effective from 19 June 2017.
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 CSE said 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.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees, a six-month median daily value traded of rupees 0.5 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.
Effective from 19 June 2017 the stocks in the S&P SL 20 in alphabetical order (including four non‐voting ordinary shares) are as follows.
No. Constituent CSE Ticker
1 Access Engineering PLC AEL.N0000
2 Aitken Spence PLC SPEN.N0000
3 Ceylon Cold Stores PLC CCS.N0000
4 Ceylon Tobacco Company PLC CTC.N0000
5 Chevron Lubricants Lanka PLC LLUB.N0000
6 Commercial Bank of Ceylon PLC COMB.N0000
7 Commercial Bank of Ceylon PLC Non-Voting COMB.X0000
8 DFCC Bank PLC DFCC.N0000
9 Hatton National Bank PLC HNB.N0000
10 Hatton National Bank PLC Non-Voting HNB.X0000
11 Hayleys PLC HAYL.N0000
12 Hemas Holdings PLC HHL.N0000
13 John Keells Holdings PLC JKH.N0000
14 Lanka Orix Leasing Company PLC LOLC.N0000
15 Melstacorp PLC MELS.N0000
16 National Development Bank PLC NDB.N0000
17 Nestle Lanka PLC NEST.N0000
18 People's Leasing & Finance PLC PLC.N0000
19 Sampath Bank PLC SAMP.N0000
20 Seylan Bank PLC SEYB.N0000
21 Seylan Bank PLC Non-Voting SEYB.X0000
22 Teejay Lanka PLC TJL.N0000
23 Tokyo Cement Company (Lanka) PLC TKYO.N0000
24 Tokyo Cement Company (Lanka) PLC Non-Voting TKYO.X0000
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