Petron back on PSE index; Cebu Air out
MANILA, Philippines - Oil refiner Petron Corp. is back on the Philippine Stock Exchange (PSE) index, replacing Cebu Air Inc., operator of budget carrier Cebu Pacific.
In a disclosure on Wednesday, the PSE said the new composition of the PSEi will take effect on September 10.
"Petron Corp. will now be part of the benchmark index replacing Cebu Air," the PSE said.
The PSE had conducted a review of the composition of the 30-company index from July 2011 to June 2012.
The PSEi is now composed of the following companies:
Ayala Corp., Aboitiz Equity Ventures, Alliance Global Group Inc., Ayala Land Inc., Aboitiz Power Corp., BDO Unibank, Belle Corp., Bank of the Philippine Islands, DMCI Holdings, Energy Development Corp., First Gen Corp., Globe Telecom, International Container Terminal Services Inc., Jollibee Foods Corp., JG Summit Holdings, Metropolitan Bank & Trust Co., Megaworld Corp., Manila Electric Co., Metro Pacific Investments Corp., Manila Water Co. Inc., Petron Corp., Philex Mining Corp., Robinsons Land Corp., Semirara Mining Corp., SM Investments Corp., San Miguel Corp., SM Development Corp., SM Prime Holdings, Philippine Long Distance Telephone Co. and Universal Robina Corp.
For a listed company to be included on the PSEi, it should satisfy the following criteria: free float level, liquidity and full market capitalization.