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New PSEi index stock composition (March 2017)

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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.

 CompanyStock CodeAdjusted Float Level
1Ayala CorporationAC40%
2Aboitiz Equity VenturesAEV47%
3Alliance Global Group, Inc.AGI42%
4Ayala Land Inc.ALI52%
5Aboitiz PowerAP19%
6Banco de Oro Unibank, Inc.BDO45%
7Bank of the Philippine IslandsBPI48%
8DMCI HoldingsDMC28%
9Energy Development CorporationEDC49%
10First Gen CorporationFGEN33%
11Globe TelecomGLO22%
12GT Capital HoldingsGTCAP48%
13International Container Terminal Services Inc.ICT51%
14Jollibee Foods CorporationJFC43%
15JG Summit HoldingsJGS41%
16LT GroupLTG26%
17Metropolitan Bank and Trust CompanyMBT49%
18Megaworld CorporationMEG34%
19Manila Electric CompanyMER19%
20Metro Pacific Investments CorporationMPI42%
21Petron CorporationPCOR24%
22Puregold Price Club, Inc.PGOLD33%
23Robinsons Land CorporationRLC39%
24Semirara Mining CorporationSCC27%
25Security BankSECB59%
26SM Investments CorporationSM44%
27San Miguel CorporationSMC15%
28SM Prime HoldingsSMPH32%
29Philippine Long Distance Telephone CompanyTEL50%
30Universal Robina CorporationURC44%

Reserve List

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:

  1. Cebu Air Inc. (CEB)
  2. DoubleDragon Properties Corp. (DD)
  3. D&L Industries (DNL)
  4. Robinsons Retail Holdings Inc. (RRHI)
  5. Vista Land & Lifescapes (VLL)

 

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