Feb 09, 2021

THE main stocks index will have no changes in its composition after the regular stock performance review for the January-December 2020 period, the Philippine Stock Exchange, Inc. (PSE) said on Monday.

In a statement, the stock market operator said companies with common stocks listed on the PSE’s main board for at least 12 months during the review period are the only ones qualified for inclusion in the Philippine Stock Exchange index (PSEi) and sector indices.

“To further qualify for inclusion in the PSEi, a listed company should be among the top companies in terms of liquidity and market capitalization,” the operator said.

The PSE also announced that there will be 10 companies to be added in the sector indices, while seven companies will be removed.

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The new companies to be added in the sector indices include those listed on the main board in 2019 such as Axelum Resources Corp., AllHome Corp., and Fruitas Holdings, Inc.

“We are pleased that these companies were included in the indices of their respective sectors after their first review period. This is an indication that investor interest in these stocks continued even after their initial public offering,” PSE President and Chief Executive Officer Ramon S. Monzon was quoted as saying.

Axelum and Fruitas will be under the industrial sector, together with AgriNurture, Inc., Phoenix Petroleum Philippines, Inc., Roxas and Co., Inc., and SFA Semicon Philippines Corp.

Meanwhile, Alliance Select Foods International, Inc. will be excluded from the industrial sector.

For the services sector, AllHome Corp., Metro Alliance Holdings and Equities Corp., and Philippine Seven Corp. will be the new additions, while Leisure and Resorts World Corp. will be removed.

Under the mining and oil sector, Lepanto Consolidated Mining Co. will be included.

For the property sector, Belle Corp., Global-Estate Resorts, Inc., 8990 Holdings, Inc., Primex Corp., and Sta. Lucia Land, Inc. will be taken out.

There are no changes in the financials and holding firms sectors. The adjustments in the market’s sectoral indices will take effect on Monday, Feb. 15.

Read the ful article at https://www.bworldonline.com/psei-composition-intact-after-index-review/.