After achieving two milestones in its very early stage of being a listed company, can D&L Industries’ be part of the 30-company bellwether Philippine Stock Exchange Index?
“Wish ko lang,” D&L chief finance officer Alvin Lao said in a text message, when asked if the company’s inclusion in the PSEi would be its next achievement.
D&L reached $1 billion in market capitalization two years ahead of a 2016 target and was included under small cap category of the London-based FTSE Index review as of March 2015.
The idea of being part of the stock index is not far fetched though, considering that the company ended 2014 ranked 50 among listed firms in terms of market capitilzation when its stock price hit P16.66 per share. D&L’s share price closed Friday at P20.95 apiece, up 25 percent since the start of the year.
To be included in the PSEi, a listed company should be among the top firm in terms of liquidity and full market capitalization. A listed company should also have a free float level of at least 12 percent of its outstanding shares.