Sampath Bank PLC, Sri Lanka’s third largest private lender by assets, has been included to the MSCI Frontier Market 100 Index, Mirror Business learns.
During the last week the shares of Sampath Bank were seen rallying on the Colombo bourse as the investors reacted positively to the news. Sampath Bank share closed at Rs.316.40 on Friday. As of now Sampath Bank (MSCI Code 1631601) is said to be the only Sri Lankan company in the index with a weightage of 0.36 percent, market sources said.
John Keells Holdings PLC, the only Sri Lankan company previously on the MSCI Frontier Market 100 Index was said to have been dropped from a sub-index.
Due to the lower average daily turnover volume as a percentage of market capitalisation, JKH has been moved out of the MSCI Frontier 100 Index, the company sources said.
MSCI Frontier Markets 100 Index captures large- and mid-cap representation across 29 frontier markets.