International Seaways Set to Join S&P SmallCap 600

Rhea-AI Summary

International Seaways Inc. (NYSE: INSW) will replace Consolidated Communications Holdings (NASD: CNSL) in the S&P SmallCap 600 index effective prior to trading on Monday, December 30, 2024. The change comes as Searchlight Capital Partners and British Columbia Investment Management (BCI) are finalizing their acquisition of Consolidated Communications. The transition will see International Seaways joining the index under the Energy sector, while Consolidated Communications will be removed from the Communication Services sector.

Positive

• Addition to S&P SmallCap 600 index enhances INSW's market visibility and potential institutional investment
• Successful completion of acquisition deal by major investment firms

Negative

• CNSL will be delisted from S&P SmallCap 600 index
• CNSL shareholders will lose public market exposure post-acquisition

NEW YORK, Dec. 23, 2024 /PRNewswire/ -- International Seaways Inc. (NYSE: INSW) will replace Consolidated Communications Holdings (NASD: CNSL) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, December 30. Searchlight Capital Partners and British Columbia Investment Management Corporation (BCI) are acquiring Consolidated Communications in a deal expected to be completed soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
Dec. 30, 2024	S&P SmallCap 600	Addition	International Seaways	INSW	Energy
Dec. 30, 2024	S&P SmallCap 600	Deletion	Consolidated Communications	CNSL	Communication Services

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View original content:https://www.prnewswire.com/news-releases/international-seaways-set-to-join-sp-smallcap-600-302338684.html

SOURCE S&P Dow Jones Indices

FAQ

When will International Seaways (INSW) join the S&P SmallCap 600 index?

International Seaways will join the S&P SmallCap 600 index prior to the opening of trading on Monday, December 30, 2024.

Why is Consolidated Communications (CNSL) being removed from the S&P SmallCap 600?

CNSL is being removed due to its pending acquisition by Searchlight Capital Partners and British Columbia Investment Management (BCI).

Which sector will INSW represent in the S&P SmallCap 600?

International Seaways will be added to the Energy sector of the S&P SmallCap 600 index.

Who are the companies acquiring Consolidated Communications (CNSL)?

Searchlight Capital Partners and British Columbia Investment Management (BCI) are acquiring Consolidated Communications.