MANILA – The Philippine Stock Exchange Inc. (PSE) on Friday announced changes in the composition of the Property and Industrial Indexes, but the 30-stock benchmark PSEi will keep its current set of stocks.
Phinma Energy Corporation will be added to the Industrial Index.
The Property Index, on the other hand, will take in D.M. Wenceslao and Associates Inc. and Sta. Lucia Land Inc., while Philippine Realty Holdings Corporation is out.
The PSEi will remain unchanged based on its composition review from July 2018 to June 2019.
“Our periodic review of the PSEi ensures that the index members continue to be the top companies among those that meet the exchange’s standards on free float level, liquidity, and market capitalization,” PSE president and CEO Ramon Monzon said.
“This exercise gives us the most suitable representatives of the Philippine stock market’s main barometer,” Monzon noted.
The composition of the four other sectors—Financials, Holding Firms, Services, and Mining and Oil—will also stay unchanged.
The changes will take effect on Monday, August 19, 2019.
To qualify for the coveted PSEi slot, a listed company must be among the top firms in terms of liquidity and market capitalization.
The company’s common shares must meet the float requirement of 15 percent and be among the top 50 percent in terms of median daily trade per month in eight out of the 12-month period in review, according to the PSE. (GMA News)
