MANILA, Philippines – Lucio Tan’s LT Group Inc. and George Ty’s GT Capital Holdings Inc. will join the roster of blue chip companies in the Philippine Stock Exchange index (PSEi) on September 16.
The PSE announced in a statement Wednesday, August 28 that LT Group and GT Capital will replace Manila Electric Co. and Belle Corp. in the PSEi, a basket of 30 most traded, most liquid and well-capitalized listed firms.
“The changes reflect the dynamics of the market. The periodic review of the main index and the sector indices is necessary to give the investors a reliable and transparent gauge of the market’s performance and trading activity,” said PSE president Hans Sicat.
To be included in the PSEi, a listed firm must satisfy stringent requirements on public float, liquidity and market capitalization.
Among sector indices, meanwhile, the industrial sector had the most changes as 4 companies were added to it and 3 were removed, the PSE said.
The recomposition was a result of the exchange’s regular review of its indices, and covered trading activity from July 2012 to June 2013. – Rappler.com