Semirara Mining and Power Corporation (SCC) is returning to the 30-company PSE index (PSEi), replacing Security Bank Corporation (SECB), effective Monday, August 8, 2022.
In a statement, the Philippine Stock Exchange said Semirara was qualified to be a member of the PSEi based on the results of the index review from July 2021 to June 2022.
The top publicly listed companies based on liquidity, market capitalization, and free float level are the securities considered for inclusion in PSE indices. Aside from these criteria, relevant financial benchmarks are also used in the index review.
“This is the last index recomposition with a free float requirement of at least 15 percent. As announced in August 2021, companies should have a public ownership level of at least 20 percent to qualify for index inclusion in the next review period,” said PSE President and CEO Ramon S. Monzon.
He added that, “We expect companies that would like to remain index constituents but have a free float of less than 20 percent to take the necessary corporate action to address this concern.” The sector indices will also see minor changes, with the addition of seven securities.
Rizal Commercial Banking Corporation will become a component of the Financials index while Benguet Corporation is set to be a constituent of the Mining and Oil index.
The Property index will see the addition of 8990 Holdings, Inc. and DDMP REIT, Inc. (DDMPR). Phinma Corporation, Shakey’s Pizza Asia Ventures, Inc., and Synergy Grid & Development Phils., Inc. will all be part of the Industrial index.
The PSE MidCap and Dividend Yield (DivY) indices, which were launched in March 2022, will likewise see a revamp of its 20-member composition.
SCC will be taken out of the PSE MidCap index following its PSEi inclusion, together with Cebu Air, Inc., DoubleDragon Corporation, and Filinvest Land, Inc.
Taking their place as PSE MidCap stocks are AyalaLand Logistics Holdings Corp., DDMPR, SECB, and Union Bank of the Philippines.
The PSE DivY Index, on the other hand, will see the inclusion of the four Real Estate Investment Trusts (REITs) that debuted in 2021, namely DDMPR, Filinvest REIT Corp., MREIT, Inc. and RL Commercial REIT, Inc.
Securities that will be removed from the PSE DivY are Robinsons Land Corporation, Robinsons Retail Holdings, Inc., SECB, and Universal Robina Corporation.