PSE adds Bloomberry, removes Petron from PSEi

Local bourse operator Philippine Stock Exchange Inc. (PSE) said Friday Bloomberry Resorts Corp. will be added to the PSE index (PSEi) - the local stock barometer.

In a statement, the PSE said Bloomberry will replace Petron Corp. in the main index based on the review of listed companies covering trading activity from January to December 2018.

The change in the composition of the PSEi will take effect on February 18, 2019.

To qualify for inclusion in the PSEi, a listed firm should be among the top companies in terms of liquidity and market capitalization, the local bourse operator said.

A listed company should also have a free float level of at least 15 percent of its outstanding shares to qualify in the main index.

The PSE said it also considers relevant financial criteria in the review.

“The regular review of indices reflects the dynamic changes in company performance vis-à-vis the standards set by the Exchange. In turn, these indices represent the investment opportunities in the Philippine stock market,” PSE president and CEO Ramon Monzon said.

The local bourse operator said all other sectoral indices will see changes in their composition except for the Mining and Oil Index.

Asia United Bank Corp. will be removed from the Financials Index, while the  Industrial Index will see the addition of Alliance Select Foods International Inc. and the exclusion of PetroEnergy Resources Corp., Phoenix Petroleum Philippines, Inc., and SFA Semicon Philippines Corp.

No new company will be added to the Holding Firms Index but one company, Solid Group Inc., will be removed, according to the PSE.

Meanwhile, Philippine Infradev Holdings Inc. will be part of the Property Index while Philippine Estates Corp. will be dropped.

Chelsea Logistics Holdings Corp. and Transpacific Broadband Group International Inc. will the newest members of the Services Index, which will also see the removal of Melco Resorts and Entertainment (Philippines) Corp.

The PSE said it conducts an index composition review twice a year using the methodology and criteria identified in the index management policy of the Exchange.

The results of the next review will be announced in August 2019, the PSE said. —LDF, GMA News