PSE announces result of index review
The Philippine Stock Exchange (PSE) announced that there will be no changes in the composition of its 30-member PSE index based on the review of listed companies covering trading activity from January 2014 to December 2014.
To be included in the PSEi, a listed firm should be among the top companies in terms of liquidity and full market capitalization. A listed company should also have a free float level of at least 12 percent of its outstanding shares.
Meantime, the sector indices will see the addition of a total of 10 new firms and the exclusion of 15 companies.
The Industrial Index will have two new members, Century Pacific Food, Inc. and Integrated Micro-Electronics, Inc. To be removed from the Industrial Index are Alliance Select Foods International, Inc. and Roxas Holdings, Inc. as well as Chemrez Technologies, Inc. which delisted effective January 10, 2015. In the Holding Firms Index, House of Investments, Inc. and Top Frontier Investment Holdings, Inc. will replace A. Soriano Corporation and Filinvest Development Corporation. Four companies will be excluded from the Property Index, namely Araneta Properties, Inc., Cebu Holdings, Inc., Empire East Land Holdings, Inc., and Starmalls, Inc. while two will be added, 8990 Holdings, Inc. and Cyber Bay Corporation. The Services Index will see the inclusion of Premiere Horizon Alliance Corporation and Premium Leisure Corporation and the removal of Calata Corporation, DFNN, Inc., Harbor Star Shipping Services, Inc., and Paxys, Inc. No new company will be added to the Financials Index but one company, Sun Life Financial, Inc., will be removed. Finally, Abra Mining and Industrial Corporation and Century Peak Metals Holdings Corporation will be the new members of the Mining and Oil Index. The same index will see the removal of Oriental Petroleum and Minerals Corporation.
“This periodic review ensures that our indices truly represent the best among our listed companies based on the standards set. With this exercise, we hope the components of the indices can reflect the increasing interest the Philippines is attracting as a viable investment destination,” said PSE President and CEO Hans B. Sicat.
The changes in sector indices composition will take effect on March 16, 2015.
The index composition is reviewed twice a year using the methodology and criteria identified in the index management policy of the PSE which is available on the Exchange’s website
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