The Philippine Stock Exchange added Semirara Mining and Power Corp. to the 30-company benchmark index while removing Security Bank Corp. following a routine review.
It said in a statement Friday the re-composition of the 30-company PSE index would take effect Aug. 8, 2022. The change is part of the biannual re-composition of the benchmark index conducted by the local bourse.
The PSE said a listed firm to qualify for inclusion in the PSEi should be among the top companies in terms of liquidity and market capitalization. A listed company should also have a free float of at least 15 percent of outstanding shares.
PSE president and chief executive Ramon Monzon said it would be the last index re-composition with a free float requirement of at least 15 percent.
“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,” Monzon said.
The 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. is set to be included in the mining and oil index.
The property index will see the addition of 8990 Holdings Inc. and DDMP REIT Inc., while Phinma Corp., Shakey’s Pizza Asia Ventures Inc. and Synergy Grid & Development Phils. Inc. will all be part of the industrial index.
The PSE mid-cap and dividend yield indices, which were launched in March 2022, will also see a revamp of its 20-member composition.
Semirara will be removed from the PSE mid-cap index following its PSEi inclusion, together with Cebu Air Inc., DoubleDragon Corp. and Filinvest Land Inc. Replacing them are AyalaLand Logistics Holdings Corp., DDMPR, SECB, and Union Bank of the Philippines. Jenniffer B. Austria
The PSE dividend yield index will see the addition of DDMPR, Filinvest REIT Corp., MREIT Inc. and RL Commercial REIT Inc.
