Expolanka to enter MSCI Frontier Markets Index after November

Expolanka Holdings PLC will be included in the MSCI Frontier Markets Index for the first time replacing Commercial Bank PLC after November 30th this year.

“The three largest additions to the MSCI Frontier Markets Index measured by full company market capitalisation will be PhatDat Real Estate (Vietnam), Islandsbanki (Iceland) and Expolanka Holdings (Sri Lanka). All changes will be implemented as of the close of November 30, 2021,” leading global index provider, MSCI announced in its Semi-Annual Index Review 
media release.

With the addition in the index, Expolanka is likely to attract interest of foreign institutional investors. As of September 30, 2021, the company didn’t have any foreign funds among its top twenty shareholders.

Meanwhile, MSCI announced that Commercial Bank PLC will be removed from MSCI Frontier Markets Index and will be transferred to MSCI Frontier Markets Small Cap Index after 30th of November this year.

Accordingly, Expolanka and John Keels  Holdings (JKH) will be representing Sri Lanka in the MSCI Frontier Markets Index. As of 29th of October, float adjusted market capitalisation of JKH and Expolanka stood at US$ 0.54 billion and US$ 0.52 billion respectively.

The MSCI Frontier Markets Index captures large and mid cap representation across 27 frontier markets (FM) with 85 entities  covering about 85 percent of the free float-adjusted market capitalisation in each country.