New PSEi index stock composition (March 2017)
Emperador (EMP) out.
Puregold PriceClub (PGOLD) in.
That’s pretty much the summary of the recomposition about to happen in the Philippine Stock Exchange (PSE) index starting March 13, after the PSE announced the results of the regular index rebalancing.
Revising the PSE index (PSEi) is part of the PSE’s regular index review which the PSE conducts twice a year — once in March and another in September.
The PSEi is a list of 30 publicly-traded stocks in the PSE and is generally considered a barometer of the performance of the stock market and the country’s overall economic state.
PSE index Inclusion Criteria
The PSE considers the following three factors when determining which companies are eligible to be included in the PSEi:
- 1. Free Float — the stock must have a public float or minimum public ownership of at least 12%;
- 2. Liquidity — stock must belong to the top 25% by median daily value turnover per month for at least nine out of 12 months; and
- 3. Full Market Capitalization — stock should be one of the 30 companies with highest-ranked market capitalization (MCAP), measured by the company’s stock price multiplied by the number of shares being publicly traded.
During the review period, a stock could be added to the index if it rises above the 25th position in terms of full market capitalization, replacing the company that ranks lower.
A stock, meanwhile, could be deleted from the PSEi if it falls below the 35th position in terms of full market capitalization.
New PSE index (PSEi) Stock Composition, as of March 2017
Here are the 30 companies belonging to the PSEi effective March 13, 2017.
Company Stock Code Adjusted Float Level
1 Ayala Corporation AC 40%
2 Aboitiz Equity Ventures AEV 47%
3 Alliance Global Group, Inc. AGI 42%
4 Ayala Land Inc. ALI 52%
5 Aboitiz Power AP 19%
6 Banco de Oro Unibank, Inc. BDO 45%
7 Bank of the Philippine Islands BPI 48%
8 DMCI Holdings DMC 28%
9 Energy Development Corporation EDC 49%
10 First Gen Corporation FGEN 33%
11 Globe Telecom GLO 22%
12 GT Capital Holdings GTCAP 48%
13 International Container Terminal Services Inc. ICT 51%
14 Jollibee Foods Corporation JFC 43%
15 JG Summit Holdings JGS 41%
16 LT Group LTG 26%
17 Metropolitan Bank and Trust Company MBT 49%
18 Megaworld Corporation MEG 34%
19 Manila Electric Company MER 19%
20 Metro Pacific Investments Corporation MPI 42%
21 Petron Corporation PCOR 24%
22 Puregold Price Club, Inc. PGOLD 33%
23 Robinsons Land Corporation RLC 39%
24 Semirara Mining Corporation SCC 27%
25 Security Bank SECB 59%
26 SM Investments Corporation SM 44%
27 San Miguel Corporation SMC 15%
28 SM Prime Holdings SMPH 32%
29 Philippine Long Distance Telephone Company TEL 50%
30 Universal Robina Corporation URC 44%
The “Reserve List” is comprised of the five (5) firms with the highest full market capitalization after the 30-member PSEi.
The said list will be used in the event that one or more stocks are deleted from the PSEi during the period up to the next scheduled review.
The five Reserve List companies are:
- Cebu Air Inc. (CEB)
- DoubleDragon Properties Corp. (DD)
- D&L Industries (DNL)
- Robinsons Retail Holdings Inc. (RRHI)
- Vista Land & Lifescapes (VLL)
Must read these other awesome readings!
- All about Dividends in Stock Investing
- Why People Lose Money in Stocks: The Emotional Cycle of Investing
- Best stock brokers in the Philippines?
- PSE stocks forum discussion
- Stock Trading Guide and Tutorial
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