The Philippine Stock Exchange, Inc. (PSE) is adding newly-listed firms in its sector indices while the main PSE index (PSEi) will see no changes in its composition.
In a statement, the bourse said these changes are based on the regular stock performance review for the January to December 2020 period and will take effect on February 15, 2021.
In terms of sector indices, ten companies will be added while seven will be removed. Among the ten listed firms are the three companies that listed on the main board in 2019 namely Axelum Resources Corporation (AXLM), AllHome Corporation (HOME), and Fruitas Holdings, Inc. (FRUIT).
“We are pleased that these companies were included in the indices of their respective sectors after their first review period. This is an indication that investor interest in these stocks continued even after their initial public offering,” said PSE President Ramon Monzon.
AXLM and FRUIT will become constituents of the Industrial Sector together with Agrinurture, Inc., Phoenix Petroleum Philippines, Inc., Roxas and Company, Inc., and SFA Semicon Philippines Corporation.
Meantime, Alliance Select Foods International, Inc. will be excluded from the same sector.
HOME, Metro Alliance Holdings & Equities Corp., and Philippine Seven Corporation will form part of the Services Sector, which will also see the removal of Leisure & Resorts World Corporation.
To be included in the Mining and Oil Sector is Lepanto Consolidated Mining Company while Belle Corporation, Global-Estate Resorts, Inc., 8990 Holdings, Inc., Primex Corporation and Sta. Lucia Land, Inc. will all be taken out from the Property Sector.
There are no changes in the Financials and Holding Firms Sectors.
Only companies with common stocks listed in the main board of the PSE for at least 12 months during the review period are eligible for inclusion in the PSEi and sector indices.
To further qualify for inclusion in the PSEi, a listed company should be among the top companies in terms of liquidity and market capitalization.
A listed company should also have a free float level of at least 15 percent of its outstanding shares. The PSE also takes into account relevant financial criteria in the review.