The Philippine Stock Exchange Inc. (PSE) announced that it will not be changing the 30 constituents of the benchmark PSE index (PSEi) after its regular index composition review covering the trading period of July 2022 to June 2023.
The PSEi is comprised of the 30 most liquid and well-capitalized listed firms and, in order to qualify for PSEi and sector indices inclusion, a listed firm must be among the top companies in terms of liquidity and market capitalization.
The constituent stocks of the main index and sub-indices should also have a free float level of at least 20 percent of its outstanding shares.
Relevant financial criteria as well as eligibility for early inclusion are also taken into account by the PSE in the index review.
“The regular screening of these barometers ensures that only the most eligible companies comprise these indices since they are used as benchmarks to gauge the market’s performance,” said PSE President and CEO Ramon S. Monzon.
Similar to the PSEi, there will be no changes in the member-companies of the Financials and Holding Firms indices.
However, The Services index will see the inclusion of Belle Corporation, DFNN Inc., DigiPlus Interactive Corp. and Harbor Star Shipping Services Inc. and the removal of Transpacific Broadband Group International Inc.
Citicore Energy REIT Corp. (CREIT), Ever-Gotesco Resources and Holdings Inc. and MRC Allied Inc. will be added to the Property index while D. M. Wenceslao and Associates Inc. and Primex Corporation will be removed.
Raslag Corp (ASLAG) and Figaro Coffee Group Inc. (FCG) will take the place of Shakey’s Pizza Asia Ventures Inc. and Roxas and Company Inc. in the Industrial index as Lepanto Consolidated Mining Company will be taken out of the Mining and Oil index.
Three companies that will be joining the sectoral indices had their initial public offering last year - FCG in January, CREIT in February, and ASLAG in June.
Aside from its sector index inclusion, FCG will also be a constituent of the PSE Dividend Yield index as it replaces CREIT.
Ginebra San Miguel Inc. and Philippine National Bank, on the other hand, will take the slots of AyalaLand Logistics Holdings Corp. and Petron Corporation in the PSE MidCap index.
The new composition of indices will take effect on Aug. 7, 2023.
Year-to-date, the PSEi is up by 0.9 percent while the PSE MidCap and PSE DivY indices increased by 4.12 percent and 0.15 percent, respectively.