MANILA, Philippines — After its mammoth maiden share sale, Monde Nissin Corp. is set to be included in the 30-member Philippine Stock Exchange index (PSEi) just less than a year since its stock market debut in June last year.
Meanwhile, Emperador Inc., which was removed from PSEi just five months ago, will return to the main index.
In a statement on Friday, the operator of the local bourse said Monde and Emperador will replace Bloomberry Resorts Corp. and Robinsons Retails Holdings Inc. in the PSEi following a January-December 2021 stock performance review.
Blue chips are those among the top companies in terms of liquidity and market capitalization. They should also have a free float level of at least 15% of their outstanding shares.
Sought for comment, a spokesperson for PSE said Monde met the requirements for early inclusion to PSEi, which include being listed for at least six months and ranking at least in the 25th position by market capitalization.
That said, the latest revamp made Monde the second the company to qualify for early admission to PSEi, with Converge ICT Inc. being the first after joining the main index last year despite not having met the old criterion that required at least 12 months of trading before becoming a candidate for PSEi.
“The index review allows us to maintain a roster of companies that best represents the entire market,” PSE President and CEO Ramon Monzon said.
“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 added.
The changes will take effect on February 14. The same review also shook up the status quo in several sub-indices, save for the Financials index.
Accordingly, the PSE added EEI Corp. and Monde to the Industrial index while removing Alsons Consolidated Resources Inc. and SFA Semicon Philippines Corp.
The Holdings index will see the A and B shares of ATN Holdings Inc. out of its roster. The Services index will cut the A and B shares of Metro Alliance Holdings & Equities Corp. while the Mining and Oil index will evict Oriental Peninsula Resources Group Inc. from its members.
AREIT Inc., Philippine Estates Corp., and Primex Corp. will be listed under the Property Index, booting out A Brown Company Inc.