Constituent changes to the S&P Sri Lanka 20 Index at CSE
View(s):Colombo Stock Exchange (CSE) this week announces changes in the S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2014 annual index rebalance
S&P Dow Jones Indices said that effective from December 22 (after the market close of December 19, 2014), Asian Hotels & Properties PLC, CT Holdings PLC and Hayleys PLC will be removed from the S&P Sri Lanka 20 index as they no longer qualify for index inclusion.
Replacements will be Access Engineering, People’s Leasing & Finance PLC and Sri Lanka Telecom PLC.
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 per cent, 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.