MANILA, Aug. 27 (PNA) — The Philippine Stock Exchange (PSE) announced that effective September 15, 2014, Emperador, Inc. (EMP) will be a member of the 30 stock PSE index (PSEi), replacing Philex Mining Corporation (PX).
Inclusion in the PSEi requires a listed company to rank among the top companies in terms of liquidity and full market capitalization. In addition, companies in the main index are required to maintain a higher free float level of 12 percent compared to the minimum requirement of 10 percent for listed companies.
Aside from the PSEi, there will also be changes in the composition of sector indices. The Financials index has two additional members, Bright Kindle Resources and Investments, Inc. (BKR) and Sun Life Financial, Inc. (SLF).
The Industrial index will see the inclusion of Concepcion Industrial Corporation (CIC), Del Monte Pacific Limited (DMPL) and Roxas Holdings, Inc. (ROX) and the exclusion of Greenergy Holdings Incorporated (GREEN).
The composition of the Holding Firms index will be reduced to 14 with the removal of AbaCore Capital Holdings, Inc. (ABA), Minerales Industrias Corporation (MIC), and Solid Group, Inc. (SGI). Meantime, the Property index will see two additions in Starmalls, Inc. (STR) and Suntrust Home Developers, Inc. (SUN) while A. Brown Company, Inc. (BRN) and Cyber Bay Corporation (CYBR) will be removed.
Four issues that will be part of the Services sector are DFNN, Inc. (DFNN), Harbor Star Shipping Services, Inc. (TUGS), Robinsons Retail Holdings, Inc. (RRHI) and Travellers International Hotel Group, Inc. (RWM) while IP E-Game Ventures, Inc. (EG) will be taken out.
For the Mining and Oil index, Dizon Copper Silver Mines, Inc. (DIZ) will be removed.
The recomposition in the PSEi and sector indices was the result of the PSE’s regular review of its indices which covered trading activity from July 2013 to June 2014.
“This review follows our regular process as published in our index rules. The regular updates should continue to make our index and its constituents more relevant and attractive especially against the backdrop of ASEAN Integration,” PSE President and CEO Hans B. Sicat said.
PSE is the only stock exchange in the Philippines with 260 listed companies and 133 active trading participants. (PNA)