Seatrium to replace Keppel DC Reit in STI
SEATRIUM will join the benchmark Straits Times Index (STI) from Jun 19, replacing Keppel DC Real Estate Investment Trust (Reit), following the latest quarterly review of the STI by FTSE Russell.
The STI reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation, will be, in alphabetical order: CapitaLand Ascott Trust, Frasers Centrepoint Trust, Keppel DC Reit, Olam Group and Suntec Reit.
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 September 2023.
The STI, Singapore’s blue-chip index, is jointly calculated by FTSE Russell, the index administrator; the Singapore Exchange; and SPH Media Trust, which publishes The Straits Times and The Business Times.
The index 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.
Keppel DC Reit ended 0.5 per cent or S$0.01 higher at S$2.10 on Thursday (Jun 1), before the announcement.
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