Hayleys PLC, Seylan Bank PLC and Tokyo Cement Company (Lanka) PLC have been included among the latest S&P Sri Lanka 20 Index compiled by S&P Dow Jones Indices, as a result of the mid-index rebalance that has been carried out.
The exclusions are Asiri Hospital Holdings PLC, Cargills Ceylon PLC and Dialog Axiata PLC.
A revision of the S&P SL 20 methodology in March 2017 established the practice of a semi-annual rebalance of the index (previously conducted annually), which is set to take place during the months of June and December each year.
The revision also established the inclusion of nonvoting ordinary shares listed by the respective companies of the S&P SL 20 Index, provided that such shares meet the relevant liquidity requirements.
The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet the minimum size, liquidity and financial viability thresholds.
The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15 percent, which is employed to reduce single stock concentration.
Effective from June 19, 2017, the stocks in the S&P SL 20 in alphabetical order (including four nonvoting ordinary shares) are: Access Engineering PLC (AEL.N0000), Aitken Spence PLC (SPEN.N0000), Ceylon Cold Stores PLC (CCS.N0000), Ceylon Tobacco Company PLC (CTC.N0000), Chevron Lubricants Lanka PLC (LLUB.N0000), Commercial Bank of Ceylon PLC (COMB.N0000), Commercial Bank of Ceylon PLC Non-Voting (COMB.X0000), DFCC Bank PLC (DFCC.N0000), Hatton National Bank PLC (HNB.N0000), Hatton National Bank PLC Non-Voting (HNB.X0000), Hayleys PLC (HAYL.N0000), Hemas Holdings PLC (HHL.N0000), John Keells Holdings PLC (JKH.N0000), Lanka Orix Leasing Company PLC (LOLC.N0000), Melstacorp PLC (MELS.N0000), National Development Bank PLC (NDB.N0000), Nestle Lanka PLC (NEST.N0000), People’s Leasing & Finance PLC (PLC.N0000), Sampath Bank PLC (SAMP.N0000), Seylan Bank PLC (SEYB.N0000), Seylan Bank PLC Non-Voting (SEYB.X0000), Teejay Lanka PLC (TJL.N0000), Tokyo Cement Company (Lanka) PLC (TKYO.N0000) and Tokyo Cement Company (Lanka) PLC Non-Voting (TKYO.X0000).