PSE retains 30-firm index lineup

Rappler.com
PSE retains 30-firm index lineup
The local bourse will also include 10 firms in sectoral indices while 15 will be removed from the list

MANILA, Philippines – The Philippine Stock Exchange (PSE) has maintained the composition of the 30-member PSE index (PSEi).

To be included in the PSEi, a listed firm should be among the top companies in terms of liquidity and full market capitalization. A listed company should also have a free float level of at least 12% of its outstanding shares.

In a statement released Wednesday, February 25, PSE said 10 new firms will be included in the sectorial indices while 15 firms will be excluded.

For sectoral indices, companies must rank among the top 50% in terms of median daily value per month in 8 of the 12-month period in review.

The recomposition of the PSEi and sectoral indices will take effect on Monday, March 16, 2015, based on the review of listed companies covering trading activity from the period January to December 2014.

PSE President and Chief Executive Officer Hans B. Sicat  said the periodic review ensures that the indices truly represent the best among the listed companies based on the standards set.

“With this exercise, we hope the components of the indices can reflect the increasing interest the Philippines is attracting as a viable investment destination,” Sicat said.

Recomposition

The index composition is reviewed twice a year, using the methodology and criteria identified in PSE’s index management policy.

With the recomposition of the sectorial indices, the industrial Iindex will have two new members, Century Pacific Food, Incorporated and Integrated Micro-Electronics, Incorporated.

Alliance Select Foods International, Incorporated and Roxas Holdings, Incorporated will be removed from the list.

Chemrez Technologies, Incorporated which delisted last month, will also be removed from the list.

In the holding firms index, House of Investments, Incorporated and Top Frontier Investment Holdings, Incorporated will replace A. Soriano Corporation and Filinvest Development Corporation.

Four companies will also be excluded from the property index, namely: Araneta Properties, Incorporated; Cebu Holdings, Incorporated; Empire East Land Holdings, Incorporated; and Starmalls, Incorporated. Two will be added – 8990 Holdings, Incorporated and Cyber Bay Corporation

The services index will also include Premiere Horizon Alliance Corporation and Premium Leisure Corporation and the removal of Calata Corporation; DFNN, Incorporated; Harbor Star Shipping Services, Incorporated; and Paxys, Incorporated.

No new company will be added to the financials index but one company, Sun Life Financial, Incorporated, will be excluded.

For mining index, Abra Mining and Industrial Corporation and Century Peak Metals Holdings Corporation will be added as new members of the mining and oil index, while Oriental Petroleum and Minerals Corporation will be removed from the list. – Rappler.com

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