Constituent changes in S&P SL 20 index announced

The Colombo Stock Exchange (CSE) yesterday announced changes in the S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2022 year-end rebalance.

The exclusion and inclusion, as announced by S&P Dow Jones Indices, are effective from December 19, 2022 (after the market close of December 
16, 2022).

The exclusions are Dialog Axiata PLC, Hela Apparel Holdings PLC, Hemas Holdings PLC and LB Finance PLC.
The inclusions are Browns Investments PLC, Brown & Co. PLC, CIC Holdings PLC and Richard Pieris & Co. PLC.
The S&P SL 20 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 percent, 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.

To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalisation 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. For information, including the complete methodology, please visit: www.spindices.com.