The Philippine Stock Exchange, Inc. (PSE) announced that there will be no changes in the composition of the 30-member PSE index (PSEi) based on the review made by the exchange covering the period from July 2017 to June 2018.
To be included in the PSEi, a listed company should rank among the top companies based on liquidity and full market capitalization. PSEi members as well as sector index members are also required to have a free float level of at least 15 percent.
The regular index review also showed that the Financials Index will remain intact but all other sectoral indices will see changes. The Industrial Index will see the addition of Ginebra San Miguel, Inc., PetroEnergy Resources Corporation, and Pepsi-Cola Products Philippines, Inc. and the removal of Alsons Consolidated Resources, Inc., San Miguel Food and Beverage, Inc., and Phinma Energy Corporation.
The Holding Firms Index will see the number of its constituents increase to 15 with the inclusion of Prime Orion Philippines, Inc. and Solid Group, Inc. Two companies will be part of the Property Index, namely Cebu Landmasters, Inc. and Philippine Estates Corporation while Sta. Lucia Land, Inc. will be taken out of the list.
The Services Index will have Philippine Seven Corporation and Wilcon Depot, Inc. as its new members but Boulevard Holdings, Inc., Golden Bria Holdings, Inc., and IPM Holdings, Inc. will be removed from the sector composition.
Finally, the Mining and Oil index will see its member-companies reduced to seven with the exclusion of Atlas Consolidated Mining and Development Corporation and Lepanto Consolidated Mining Company.
“The continued implementation of the revised index management policy has yielded a more representative set of companies composing the indices given the more stringent requirements we have adopted,” said PSE President and CEO Ramon S. Monzon.
The recomposition of indices will take effect on August 20, 2018.