The local bourse maintained the composition of the bellwether Philippine Stock Exchange index after a regular stock performance review of the 2020 market performance.
The PSEi consists of the country’s 30 most liquid and well-capitalized listed firms. For a listed company to included in PSEi, it should be among the top companies in terms of liquidity and full market capitalization.
A listed company should have a free float of at least 15 percent of outstanding shares. The PSE also takes into account relevant financial criteria in the review.
The PSE said that in terms of sector indices, ten companies would be added while seven would be removed. Three of the ten listed firms to be added in sector indices are Axelum Resources Corp., AllHome Corp. and Fruitas Holdings, Inc..
“We are pleased that these companies were included in the indices of their respective sectors after their first review period. This is an indication that investor interest in these stocks continued even after their initial public offering,” PSE president and chief executive Ramon Monzon said.