Japara and Regis removed from S&P/ASX 300 after recent write-downs

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The listed aged care providers have been given the boot from the index of the top 300 companies on the Australian Stock Exchange (ASX) as part of the quarterly rebalance, effective from 21 September 2020.

The ASX 300 is usually rebalanced after asset valuations have diverged from initial values of a certain period of time. They must also meet certain liquidity standards.

The rebalance reflects a rocky year for both providers as occupancy declines, COVID and negative media hit the whole sector.

Japara reported a drop in EBITDA of 34% in its full year results, while Regis saw its profits slide by 24%.

Estia – which had an 18% fall in EBITDA for FY19-20 – remains on the list.

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