Emperador, Monde join PSE index stocks

MANILA, Philippines — Andrew Tan-led Emperador Inc. and snack foods giant Monde Nissin Corp. will debut on the Philippine Stock Exchange index (PSEi).

This comes after the latest review of the Philippine Stock Exchange (PSE) on the stock performance of listed companies.

The two companies will replace Razon-led Bloomberry Resorts Corp.and the Gokongwei Group’s Robinsons Retail Holdings Inc.

PSE president and CEO Ramon Monzon said that to qualify for inclusion in the index, a listed company should be among the top companies in terms of liquidity and market capitalization. It should also have a free float level of at least 15 percent of its outstanding shares.

Relevant financial criteria as well as eligibility for early inclusion are also considered by the PSE in the index review.

“The index review allows us to maintain a roster of companies that best represents the entire market. 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 said.

Except for the financials index, all other sector indices will have changes in their composition. EEI Corp. and Monde will be added while Alsons Consolidated Resources Inc. and SFA Semicon Philippines Corp. will be removed from the industrial index.

As for the rest of the sectors, the A and B shares of ATN Holdings will be removed from the Holdings index; the A and B shares of Metro Alliance Holdings & Equities Corp. will be removed  from the Services index and Oriental Peninsula Resources Group Inc. will be removed from the Mining and Oil Index.

On the other hand, Ayala-led AREIT Inc., Philippine Estates Corp., and Primex Corp. will become part of the Property index while A Brown Company Inc. will cease to be a constituent of the said index.