CSE announces constituent changes in S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) has announced the changes in S&P Sri Lanka 20 index constituents, made by S&P Dow Jones Indices at the 2023 year-end rebalance.
The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from December 18, 2023 (after the market close of December 15, 2023) are Browns Investments PLC, Dipped Products PLC, Expolanka Holdings PLC, Richard Pieris & Co PLC and Sri Lanka Telecom PLC.

The inclusions are DFCC Bank, Dialog Axiata PLC, Distilleries Company of Sri Lanka PLC, Hatton National Bank PLC and Nations Trust Bank 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.