The Philippine Stock Exchange Inc. (PSE), the equities market operator, has retained the composition of the 30-company benchmark index, the PSEi.
The decision arose from the PSE’s regular index composition review of the trading period from July 2022 to June 2023.
To qualify for PSEi and sector index inclusion, a listed firm must be among the top in terms of liquidity and market capitalization and should also have a free float of at least 20 percent of its outstanding shares. Relevant financial criteria as well as eligibility for early inclusion are also taken into account in the index review.
There were no changes in the member-companies of the Financials and Holding Firms indices but he Services index will see the inclusion of Belle Corp., DFNN Inc., DigiPlus Interactive Corp, the Harbor Star Shipping Services Inc. Excluded from the index was Transpacific Broadband Group International Inc.
Citicore Energy REIT Corp., Ever-Gotesco Resources and Holdings Inc. and MRC Allied Inc. were added to the Property index while D. M. Wenceslao and Associates Inc. and Primex Corporation were removed.
Raslag Corp and Figaro Coffee Group Inc. will take the place of Shakey’s Pizza Asia Ventures Inc. and Roxas and Co. Inc. in the Industrial index. Lepanto Consolidated Mining Company was taken out of the Mining and Oil index.
Three companies will be joining the sectoral indices had their initial public offering last year—Figaro in January, CREIT in February and Raslag in June.
“The regular screening of these barometers ensures that only the most eligible companies comprise the indices since they are used as benchmarks to gauge the market’s performance,” PSE president and CEO Ramon S. Monzon said.
Aside from its sector index inclusion, Figaro will also be a constituent of the PSE Dividend Yield index, replacing CREIT.
Ginebra San Miguel, Inc. and Philippine National Bank, on the other hand, will take the slots of AyalaLand Logistics Holdings Corp. and Petron Corp. in the PSE MidCap index.
Year-to-date, the PSEi is up 0.9 percent as the PSE MidCap and PSE DivY indices rose 4.12 percent and 0.15 percent, respectively.
The new composition of indices will take effect on 7 August, the PSE said.
