A scheduled recomposition at the Philippine Stock Exchange (PSE) will be limited to the sectoral indices, the bourse announced on Wednesday, with the changes to take effect on August 20, 2018.
All 30 stocks under the benchmark PSE index (PSEi) will be retained.
Ginebra San Miguel Inc., PetroEnergy Resources Corp., and Pepsi-Cola Products Philippines Inc. will be added to the industrial index, replacing Alsons Consolidated Resources Inc., San Miguel Food and Beverage Inc. and Phinma Energy Corp.
For property, Cebu Landmasters, Inc. and Philippine Estates Corp. will be added, while Sta. Lucia Land Inc. will be removed.
The services index will see the entry of Philippine Seven Corp. and Wilcon Depot Inc., and the departure of Boulevard Holdings Inc., Golden Bria Holdings Inc., and IPM Holdings Inc.
No firm will be removed from the holding firms index, which will be expanded by the addition of Prime Orion Philippines Inc. and Solid Group Inc.
Mining and oil, meanwhile, will be reduced to only seven firms with the removal of Atlas Consolidated Mining and Development Corp. and Lepanto Consolidated Mining Co.
The financials index, lastly, will be kept unchanged.
“The continued implementation of the revised index management policy has yielded a more representative set of companies composing the indices given the more stringent requirements we have adopted,” PSE President and Chief Executive Officer Ramon Monzon said.
To be included in the PSEi, a listed firm should rank among the top companies based on liquidity and full market capitalization. It should also maintain a 15-percent minimum public ownership.