The Philippine Stock Exchange (PSE) is including in its 30-company PSE index (PSEi) coal and power firm Semirara Mining and Power Corp. vice lender Security Bank Corp.

The new PSEi composition will take effect August 8.

“This is the last index recomposition with a free float requirement of at least 15 percent,” said Ramon Monzon, PSE president.

“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. 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,” he added.

Monzon said  Rizal Commercial Banking Corp. will become a component of the Financials index while Benguet Corp. will be added to the Mining and Oil index.

“The Property index will see the addition of 8990 Holdings Inc. and DDMP REIT Inc. (DDMPR). Phinma Corp., Shakey’s Pizza Asia Ventures Inc. and Synergy Grid & Development Philippines Inc. will all be part of the Industrial index,” the PSE  said in a statement.

The 20-company PSE MidCap index, which was launched in March this year, will see Semirara  removed from the list as a result of its inclusion in the PSEi. Cebu Air Inc., DoubleDragon Corp. and Filinvest Land Inc. are likewise removed from the indices and will be replaced by AyalaLand Logistics Holdings Corp., DDMPR, Security Bank, and Union Bank of the Philippines.

The 20-company PSE Dividend Yield  index, also launched last March, will see the inclusion of the four real estate investment trusts (REITs) that debuted in 2021 — DDMPR, Filinvest REIT Corp., MREIT Inc. and RL Commercial REIT Inc. vice Robinsons Land Corp., Robinsons Retail Holdings Inc., Security Bank, and Universal Robina Corp.

To be included in the PSE’s indices, a company must be among the top publicly listed companies based on liquidity, market capitalization, and free float level. Aside from these criteria, relevant financial benchmarks are also used in the index review. – Ruelle Castro

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