Security Bank Corp. is set to rejoin the Philippine Stock Exchange Index, the stock market benchmark index, starting next month.
The Philippine Stock Exchange said in a memorandum posted on its website Security Bank would replace Bloomberry Resorts Corp. in the main index.
The changes, which will take effect on September 12, followed 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 PSEi, a basket of select 30 stocks, a listed company must be among the top companies in terms of liquidity and full market capitalization and its free float level should be higher than the minimum requirement of 12 percent.
Five companies, meanwhile, have been placed under reserve list which will be used if one or more constituents are deleted from the PSEi. These are DoubleDragon Properties Corp., D&L Industries Inc., Puregold Price Club., Robinsons Retail Holdings Inc and Vista Land & Lifescapes Inc. the PSE also reported changes in compositions of sectoral indices.
AG Finance Inc. was included in the in the financials index while Philippine Stock Exchange Inc. was removed. Da Vinci Capital Holdings Inc. and Ionics Inc were added to the industrial index while Vitarich Corp was removed.
IPM Holdings Inc. was deleted from from the holding firms index, while Pacifica Inc. was added to the list. A Brown Co Inc. and Suntrust Home Developers Inc. were added to the property index to replace Crown Equites Inc., Primex Corp. and IRC Properties Inc.
Five companies were added to services index, namely Yehey! Corp., SBS Philippines Corp., Now Corp., Metro Retail Stores Group Inc and IPM Holdings Inc. Only PhilWeb Corp. was removed.