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MANILA, Philippines – Security Bank Corporation is set to rejoin the Philippine Stock Exchange (PSE) index next month.
The PSE said in a memorandum on Wednesday, August 24, that Security Bank will replace Bloomberry Resorts Corporation, which is set to be removed from the main index.
The changes, which will take effect on September 12, follow the PSE's regular review of its main and sectoral indices for the trading activity from July 2015 to June 2016.
To be included in the PSE index (PSEi), which is a basket of select 30 stocks, a listed firm must be among the top companies in terms of liquidity and full market capitalization.
Its free float level should also be higher than the minimum requirement of 12%.
Meanwhile, 5 companies have been placed under the Reserve List – which will be used in the event that one or more constituents are deleted from the PSEi.
These are DoubleDragon Properties Corporation, D&L Industries Incorporated, Puregold Price Club, Robinsons Retail Holdings Incorporated, as well as Vista Land & Lifescapes Incorporated.– Rappler.com
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