REUTERS

By Keren Concepcion G. Valmonte, Reporter  

Emperador, Inc. and Monde Nissin Corp. will be part of the 30-member Philippine Stock Exchange index (PSEi) beginning Feb. 14, replacing Bloomberry Resorts Corp. and Robinsons Retail Holdings, Inc. (RRHI).  

This is the result of the Philippine Stock Exchange’s (PSE) regular review of the benchmark index and sectoral indices, which covered trading activity from Jan. to Dec. 2021.  

“The index review allows us to maintain a roster of companies that best represents the entire market. The last two reviews saw the entry of newly listed companies in the PSEi as large issuances readily meet our criteria and are deemed qualified for inclusion by other index providers,” PSE President and CEO Ramon S. Monzon said in a statement.  

To qualify for inclusion in the PSEi, listed firms should be among the top companies in terms of liquidity and market capitalization. Companies also need to have a public float of at least 15%. The PSE also provides rules on the early inclusion of newly listed companies.  

Monde Nissin, which made its debut on the stock market in June last year after a record P48.6-billion public offering, qualified for early inclusion.   

Meanwhile, Emperador is rejoining the PSEi after it was removed in August last year.  

“Many analysts were expecting this already if you look at the metrics. There was speculation on other issues, but it has been [in] discussion for a month at least,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.  

COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said the PSEi’s rebalancing “may cause some turbulence from the beginning of next week to its end.”  

Emperador and Monde Nissin’s inclusion in the bellwether index is seen as beneficial. However, it’s a different story for Bloomberry and RRHI as they exit from the PSEi. 

“We have seen some early exit motions into BLOOM (Bloomberry’s ticker symbol) and RRHI already recently, as many have been speculating on their removal already — so perhaps a good chunk of selling may have been factored in already,” Mr. Barredo said in a separate Viber message.  

All sectoral indices will have changes in their composition except for the Financials index.  

Monde Nissin joins EEI Corp. in the industrial index, taking the place of Alsons Consolidated Resources, Inc., SFA Semicon Philippines Corp.  

AREIT, Inc., Philippine Estates Corp., and Primex Corp. will be part of the Property index, while A Brown Co., Inc. will be removed.  

Meanwhile, the A and B shares of ATN Holdings, Inc. will be removed from the Holding firms index. The A and B shares of Metro Alliance Holdings & Equities Corp. will also be bumped off the Services index.   

Oriental Peninsula Resources Group, Inc. will no longer be part of the Mining and Oil index beginning Feb. 14.  

“The index review allows us to maintain a roster of companies that best represents the entire market,” Mr. Monzon said. 

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