Monde Nissin Corp. and Emperador Inc. are set to join the 30-member Philippine Stock Exchange index, in place of Bloomberry Resorts Corp. and Robinsons Retail Holdings Inc.
This is based on the latest PSEi recomposition that will take effect on Feb. 14, 2022, Philippine Stock Exchange president and chief executive Ramon Monzon said in a memorandum Friday.
PSEi is the basket of the most traded, most liquid, and well-capitalized listed companies in the country.
The PSEi consists of top firms in terms of liquidity and market capitalization. These companies also have a free float level of at least 15 percent of outstanding shares. Relevant financial criteria and eligibility for early inclusion are also considered by the PSE in the index review.
Monde Nissin was listed on stock exchange last year and was the country’s bigges initial public offering. As of Friday, Monde Nissin has a market capitalization of P287.4 billion.
Emperador has a market capitalization of P377.67 billion, as its share price jumped last year after the liquid firm announced plans to conduct secondary listing on the Singapore Stock Exchange.
“The index review allows us to maintain a roster of companies that best represents the entire market. The last two reviews saw the entry of newly listed companies in the PSEi as large issuances readily meet our criteria and are deemed qualified for inclusion by other index providers,” Monzon said.
Except for the financials index, all other sector indices will have changes in their composition.
EEI Corp. and MONDE will be added, while Alsons Consolidated Resources Inc. and SFA Semicon Philippines Corp. will be removed from the industrial index.
Meanwhile, the A and B shares of ATN Holdings Inc. will be removed for the holdings index, while the A and B shares of Metro Alliance Holdings & Equities Corp. will also be deleted from for the services index.
Oriental Peninsula Resources Group Inc. will be excluded from the mining and oil index.
AREIT Inc., Philippine Estates Corp., and Primex Corp. will be included in the property index, while A Brown Company Inc. will cease to be a constituent in the same index.