CSE announces change in S&P Sri Lanka 20 index

The Colombo Stock Exchange (CSE) yesterday announced the changes in the S&P Sri Lanka 20 index constituents made by the S&P Dow Jones Indices at the 2024 Mid-Year rebalance.
Accordingly, as announced by the S&P Dow Jones Indices, Softlogic Life Insurance PLC and Hatton National Bank PLC are excluded. Meanwhile, LB Finance PLC is included. 
The exclusions and inclusion are effective from June 24, 2024, after the market close of June 20, 2024.

The S&P SL 20 index includes the 20 largest companies, by total market capitalisation, listed on the CSE that meet the 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 the international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS), which was co-developed by the 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 Rs.500 million, a six-month median daily value traded of Rs.0.25 million and have a positive net income over the 12 months prior to the rebalancing reference date.