Keppel DC Reit to replace Jardine C&C on STI
NetLink NBN Trust will take over Keppel DC Reit on the index’s reserve list
[SINGAPORE] Keppel DC Real Estate Investment Trust (Reit) will replace Hong Kong-based conglomerate Jardine Cycle & Carriage (C&C) on the benchmark Straits Times Index (STI), following a quarterly review.
Therefore, Internet service provider NetLink NBN Trust will replace Keppel DC Reit on the STI’s reserve list, said the index’s administrator, FTSE Russell, in a bourse filing on Thursday (Jun 5).
The STI, Singapore’s main stock market benchmark, is jointly calculated by FTSE Russell; SPH Media, which publishes The Business Times; and the Singapore Exchange (SGX).
The STI reserve list is made up of the five highest ranking non-constituents of the index by market capitalisation.
Stocks on the reserve list will replace any STI constituents that become ineligible as a result of corporate action before the next review, which will take place in September.
The other four companies on the reserve list are CapitaLand Ascott Trust, ComfortDelGro, Keppel Reit and Suntec Reit.
The changes take effect at the start of business on Jun 23.
Units of Keppel DC Reit closed S$0.02 or 0.9 per cent higher at S$2.19, while shares of Jardine C&C closed S$0.08 or 0.3 per cent lower on Thursday at S$23.85 before the announcement.
Shares of NetLink NBN Trust ended S$0.005 or 0.6 per cent lower at S$0.865.
Copyright SPH Media. All rights reserved.
