The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2020 mid-year index rebalance.
A revision of the S&P SL20 methodology in March 2017 established the practice of a semiannual 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 non‐voting ordinary shares listed by the respective companies of the S&P SL20 Index, provided that such shares meet relevant liquidity requirements.
The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 22nd June 2020 (after the market close of 19th June 2020) are presented below in alphabetical order.
Exclusions
| No. | Company | CSE Ticker |
|
1 |
Tokyo Cement Co. Lanka PLC | TKYO.N0000 |
| TKYO.X0000 | ||
| 2 | Expolanka Holdings PLC | EXPO.N0000 |
| 3 | Janashakthi Insurance Co. PLC | JINS.N0000 |
| 4 | Lanka IOC PLC | LIOC.N0000 |
| 5 | Softlogic Life Insurance PLC | AAIC.N0000 |
| 6 | Union Bank of Colombo PLC | UBC.N0000 |
Inclusions
| No. | Company | CSE Ticker |
| 1 | Central Finance Co., PLC | CFIN.N0000 |
| 2 | Ceylon Tobacco Co. PLC | CTC.N0000 |
| 3 | LOLC Holdings PLC | LOLC.N0000 |
| 4 | Melstacorp PLC | MELS.N0000 |
| 5 | Richard Pieris & Co., PLC | RICH.N0000 |
| 6 |
Seylan Bank Limited |
SEYB.N0000 |
| SEYB.X0000 |
The S&P SL20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, 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 capitalization of 500 million Sri Lankan rupees (Rs), a six-month median daily value traded of Rs 0.25 million, have been traded at least 10 days of each month for the three months prior to the rebalancing reference date, and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, please visit: www.spindices.com
Effective from 22nd June 2020 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.
| No. | COMPANY | TICKER |
| 1 | Access Engineering PLC | AEL.N0000 |
| 2 | Aitken Spence PLC | SPEN.N0000 |
| 3 | Central Finance Co., PLC | CFIN.N0000 |
| 4 | Ceylon Tobacco Co. PLC | CTC.N0000 |
| 5 | Chevron Lubricants Lanka PLC | LLUB.N0000 |
| 6 | Commercial Bank of Ceylon PLC | COMB.N0000 |
| COMB.X0000 | ||
| 7 | DFCC Bank PLC | DFCC.N0000 |
| 8 | Dialog Axiata PLC | DIAL.N0000 |
| 9 | Hatton National Bank PLC | HNB.N0000 |
| HNB.X0000 | ||
| 10 | John Keells Holdings PLC | JKH.N0000 |
| 11 | LOLC Finance PLC | LOFC.N0000 |
| 12 | LOLC Holdings PLC | LOLC.N0000 |
| 13 | Melstacorp PLC | MELS.N0000 |
| 14 | National Development Bank PLC | NDB.N0000 |
| 15 | Overseas Realty (Ceylon) PLC | OSEA.N0000 |
| 16 | People’s Leasing & Finance PLC | PLC.N0000 |
| 17 | Richard Pieris & Co., PLC | RICH.N0000 |
| 18 | Sampath Bank PLC | SAMP.N0000 |
| 19 | Seylan Bank PLC | SEYB.N0000 |
| SEYB.X0000 | ||
| 20 | Teejay Lanka PLC | TJL.N0000 |