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Manila Bulletin devider Business devider The Stock Market devider Maynilad joins PSE index as Converge drops out

Maynilad joins PSE index as Converge drops out

Published Jul 28, 2026 06:11 am
Maynilad Water Services Inc. will join the Philippine Stock Exchange index (PSEi), taking the place of broadband operator Converge Information and Communications Technology Solutions Inc. in the main benchmark, following strong trading volume and market value growth after its initial public offering (IPO).
In a statement, the PSE said the reshuffle of the 30-company gauge will take effect Aug. 3. Maynilad qualified under early-entry rules, making it only the third company to achieve fast-track inclusion since the framework was introduced in 2021.
Maynilad’s strong post-IPO share price gains and high stock demand allowed it to clear the exchange’s market capitalization and liquidity thresholds, PSE President and Chief Executive Officer Ramon S. Monzon said.
Converge will move into the PSE MidCap index, where Philex Mining Corp. will also gain entry. Asia United Bank Corp. will be removed from the MidCap gauge. Conglomerate Aboitiz Equity Ventures Inc. will join the 20-member PSE Dividend Yield index.
Robinsons Retail Holdings Inc. was removed from both the MidCap and Dividend Yield indices on July 16 after its public float fell below the minimum requirement following a tender offer.
The exchange’s sector indices will also undergo broad adjustments. The Industrial index will add Basic Energy Corp., Maynilad, and Top Line Business Development Corp., replacing Concepcion Industrial Corp., Pryce Corp., and Vitarich Corp.
Bank of Commerce and National Reinsurance Corp. of the Philippines will join the Financials index. Lopez Holdings Corp. will enter the Holding Firms index, and The Philodrill Corp. will join the Mining and Oil index.
Vista Land & Lifescapes Inc. and VistaREIT Inc. will exit the Property index, while retail operators AllDay Marts Inc. and AllHome Corp. will be dropped from the Services index.
The latest evaluation, covering the July 2025 to June 2026 period, followed existing index rules. Future reviews, starting with the January to December 2026 cycle, will apply updated criteria focusing more heavily on stock liquidity, according to Monzon.
Under the revised policy, candidates must meet specific Median Trading Activity Ratio and Monthly Average Daily Value Turnover targets alongside standard market cap requirements.

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Philippine Stock Exchange (PSE) Maynilad Water Services Inc. PSE index
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