CSE announces constituent change in the S&P SL20 Index

The Colombo Stock Exchange (CSE) has announced the constituent changes in the S&P SL20 Index at the 2022 midyear rebalance.

The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 20 June (after the market close of 17 June) are presented below. 

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%, 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 Rs. 500 million, 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.  Effective from 20 June, the stocks in the S&P SL20 in alphabetical order are as follows.