MANILA, Philippines - The local bourse has announced a new line-up of listed firms included in its main and sectoral indices.
In a memo to investors and trading participants released on Thursday, the Philippine Stock Exchange released a list of 30 firms that now include the following in the main PSE index (PSEi):
- DMCI Holdings, a construction firm controlled by the Consunji family
- First Gen Corp, power generation firm controlled by the Lopez family)
- JG Summit Holdings, Inc., diversified conglomerate controlled by the Gokongwei family)
The 3 firms took over the slots previously held by San Miguel Corp, GMA Network Inc. and Security Bank Corp.
PSEi is a basket of stocks of the country's most traded, most liquid and well-capitalized listed firms. It is generally considered as a generally considered as a benchmark of the stock market's performance.
To be included in the PSEi, a listed company must satisfy 5 criteria – the free float level, liquidity, volume turnover, tradability and free float market capitalization.
The current 30 has an average free float level of 40%.
San Miguel was removed from the list in the previous review since it's free float of 8.1% went below the minimum of 10%.
The new composition of the PSEi will take effect on November 8, 2010.