Seatrium to be included in the STI; Keppel DC REIT heads for reserve list

Seatrium's market cap is more than $8 bil; Keppel DC REIT's $3.6 billion

Seatrium S51, newly-formed from the merger of Sembcorp Marine and Keppel Offshore and Marine, has replaced Keppel DC REIT on the Straits Times Index, according to the Singapore Exchange and its index partners following a quarterly review for June.

News that Seatrium has been included in the STI came just a day after CPIB announced an investigation on the company for alleged corruption in Brazil.

Keppel DC REIT AJBU has a market value of $3.6 billion while Seatrium has a market cap of $8.26 billion.

The STI has 30 component stocks that are deemed the blue-chip counters of the local stock market.

In addition, there's a so-called "STI reserve list" which comprises the five highest ranking non-constituents of the STI by market capitalisation.

They are, in alphabetical order: CapitaLand Ascott Trust HMN, Frasers Centrepoint Trust J69U, Keppel DC REIT, Olam Group and Suntec REIT T82U.

Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate actions before the next review.

 

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• Keppel DC REIT CEO Lee moving to FLCT

• CPIB launches investigation into Seatrium for alleged corruption in Brazil (update)

• Short term selling pressure starts to alleviate for Straits Times Index

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