Robinsons Retail to replace EDC in PSE Index


Posted at Sep 26 2017 04:36 PM

MANILA - The Philippine Stock Exchange (PSE) said Tuesday Energy Development Corp (EDC) would be removed from the main index and replaced by Robinsons Retail Holdings Inc effective Sept. 28.

This came after EDC's free float level dropped below the 12 percent minimum requirement to qualify as a main index component, the PSE said.

EDC earlier announced the completion of a tender offer for 31 percent of the company by a consortium of investors including Macquarie and Singaporean fund GIC. 

Shares of the renewable energy company fell 20 percent on Tuesday to 4.80 after the PSE announced the delisting.