Keppel Reit to replace Olam on STI reserve list; no changes to constituents

STRAITS Times Index (STI) administrator FTSE Russell on Thursday (Aug 31) said there will be no changes to the constituents of Singapore’s blue-chip index, following the September 2023 quarterly review.

Keppel Reit : K71U 0% will replace food and agri-business giant Olam Group : VC2 0% on the STI reserve list at the start of business on Sep 18.

The STI reserve list is made up of the five highest ranking non-constituents of the STI by market capitalisation.

It will next comprise of, in alphabetical order, CapitaLand Ascott Trust : HMN 0%, Frasers Centrepoint Trust : J69U 0%, Keppel DC Reit : AJBU 0%, Keppel Reit, and Suntec Reit : T82U 0%.

Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate action before the next review, which will take place in December 2023.

FTSE Russell partners the Singapore Exchange and SPH Media Trust, which publishes The Straits Times and The Business Times, to jointly calculate the STI.

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The STI is used as the basis for a range of financial products including exchange-traded funds, warrants, futures and other derivatives.

It is reviewed quarterly in accordance with the index ground rules and to facilitate the inclusion of eligible initial public offering stocks.

Units of Keppel Reit gained 0.6 per cent or S$0.005 to S$0.86 on Thursday, while shares of Olam Group ended trading 0.8 per cent or S$0.01 higher to S$1.25.