SEMIRARA Mining and Power Corp. will be included in the 30-company Philippine Stock Exchange index (PSEi), replacing Security Bank Corp., according to the latest review of the bourse.
The said changes take effect on August 8.
“This is the last index re-composition with a free float requirement of at least 15 percent. As announced in August 2021, companies should have a public ownership level of at least 20 percent to qualify for index inclusion in the next review period,” PSE president and CEO Ramon S. Monzon was quoted in a statement as saying. “We expect companies that would like to remain index constituents but have a free float of less than 20 percent to take the necessary corporate action to address this concern.”
The country’s top publicly listed companies included in the index were based on liquidity, market capitalization and free float level. Aside from these criteria, relevant financial benchmarks are also used in the index review.
The other sector indices will also see minor changes, with the addition of seven securities. Rizal Commercial Banking Corp. will become a component of the Financials index while Benguet Corp. will be included in the Mining and Oil index.
The Property index will see the addition of 8990 Holdings Inc. and DDMP REIT Inc.
Phinma Corp., Shakey’s Pizza Asia Ventures Inc. and Synergy Grid and Development Phils. Inc. will all be part of the Industrial index.
The PSE MidCap and Dividend Yield indices, which were launched in March, will also see a revamp of its 20-member composition. Semirara Mining will be taken out of the PSE MidCap index following its PSEi inclusion.
Cebu Air Inc., DoubleDragon Corp. and Filinvest Land Inc. will all be taken out of the MidCap index. These firms will be replaced by AyalaLand Logistics Holdings Corp., DDMP, Security Bank and Union Bank of the Philippines.
The PSE DivY Index, on the other hand, will see the inclusion of the four real estate investment trusts that debuted in 2021. These are DDMP, Filinvest REIT Corp., MREIT Inc. and RL Commercial REIT Inc. Securities that will be removed from the PSE DivY are mostly Gokongwei firms including Robinsons Land Corp., Robinsons Retail Holdings Inc., Universal Robina Corp. and also Security Bank.