CSE announces new constituents of S&P SL20 Index

The Colombo Stock Exchange (CSE) has announced a new set of constituents in S&P Sri Lanka 20 index at the 2023 mid-year rebalance.

The exclusion as announced by S&P Dow Jones Indices, effective from 19 June 2023 (after the market close of 16th June 2023) are  Brown & Co. Ltd., Teejay Lanka PLC, and Watawala Plantations PLC. The inclusions are Hatton National Bank PLC, Hemas Holdings PLC and Sri Lanka Telecom 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%, 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. For information, including the complete methodology, please visit: www.spindices.com

Effective from 19 June 2023 the stocks in the S&P Sri Lanka 20 in alphabetical order are as follows.