Starting February 3, 2025, the country’s first real estate investment trust AREIT Inc. will debut at the Philippine Stock Exchange’s 30-company benchmark index while China Banking Corporation will return to the PSEi after almost 14 years.
In a statement, the PSE said the two firms will join the PSE index next month as a result of the January to December 2024 index review.
AREIT will be also be the first REIT to be included in the PSEi after just four years from its listing at the bourse while Chinabank found its way back to the main index since its first inclusion from May 2010 to May 2011.
“It is notable that our very first listed REIT has also become the first REIT to make it to the PSEi. This shows the immense potential REITs have as an investment product, and serves as a good example for REIT issuers that aspire to maximize this particular type of listing vehicle,” PSE President and CEO Ramon S. Monzon said.
AREIT and Chinabank will be replacing Nickel Asia Corporation and Wilcon Depot, Inc. which will become constituents of the PSE MidCap index.
Aside from the above-mentioned index membership switch, Philippine Seven Corporation will also stand in for DDMP REIT, Inc. in the 20-member midcap benchmark.
Meanwhile, the PSE Dividend Yield index will see the addition of Robinsons Land Corporation and the removal of International Container Terminal Services, Inc.
The PSE Midcap and PSE Dividend Yield indices have two and four REIT constituents, respectively.
All sector indices will remain unchanged except for the Industrial sector, with the inclusion of Pryce Corporation and the exclusion of Fruitas Holdings, Inc.
The PSE said a listed firm must be among the top companies in terms of liquidity and market capitalization to qualify for inclusion in the indices.
It should also maintain a free float level of at least 20 percent of its outstanding shares. Relevant financial criteria are likewise considered by the PSE in evaluating the index composition.
All the changes in the indices will be effected on February 3, 2025.