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Puregold to be included in PSE composite index

February 22, 2017 5:33 AM
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Puregold to be included in PSE composite index

The Philippine Stock Exchange, Inc. (PSE) announced in its latest index review that Puregold Price Club Inc. will become a PSE index (PSEi) member for the first time since listing in 2011, while Emperador Inc. will be removed from the list. These are among the changes that will be reflected on March 13, 2017, when the results of the index review covering trading activity from January to December 2016 takes effect.

The PSE reviews the index composition twice a year to determine which eligible companies should form part of the main and sectoral indices. The PSEi review takes into account the company’s public float which should be at least 12 percent, its inclusion in the top 25 percent of securities based on the median daily value per month for at least nine out of the 12 months, and its rank in terms of market capitalization.

Several changes will also be seen in the composition of sectoral indices. No new company will be added in the Financials index but AG FinanceInc. will be removed from the list. Five companies will be dropped from the Industrial index, namely Concepcion Industrial Corporation, Del Monte Pacific Limited, Phoenix Semiconductor Philippines, Swift Foods, Inc., and Splash Corporation, while two companies, Holcim Philippines, Inc. and Vitarich Corporation, will be included.

For the Holding Firms index, Filinvest Development Corporation will replace Unioil Resources & Holdings Company, Inc. Two companies will also join the Property index namely, Araneta Properties, Inc. and Primex Corporation, whereas Suntrust Home Developers, Inc. will be removed.

Apollo Global Capital, Inc. will no longer be part of the Services index while changes in the Mining and Oil index include the addition of Apex Mining Company, Inc. and the exclusion of The Philodrill Corporation and Trans-Asia Petroleum Corporation.

To be included in the sector indices, the common stocks of the company must rank among the top 50 percent in terms of median daily trade per month in eight out of the 12-month review period.

“The regular index review is an important exercise as this determines the eligible stocks that should comprise the indices based on the set criteria. We know that some investors stock pick based on the index members and so we want the appropriate securities to represent these indices,” said PSE President and CEO Hans B. Sicat.

Source: business.mb.com.ph

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