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LT Group, GT Capital replace Meralco, Belle Corp. in benchmark PSEi

By DANESSA O. RIVERA, GMA News

Lucio Tan's LT Group Inc. and George S.K. Ty's GT Capital Holdings Inc. will be part of the 
the benchmark PSE blue-chip index, the Philippine Stock Exchange said Wednesday.
 
To be replaced starting September 16 are power distributor Manila Electric Company and property developer Belle Corp. in the 30-stock PSEi, following results of the PSE's review of stock market indices that covered trading activities in the 12 months to June 2013.
 
The PSEi consists of the top companies in terms of liquidity and full market capitalization, with free float levels higher than the 12 percent minimum.
 
“The changes reflect the dynamics of the market,” PSE president Hans Sicat noted in a statement. “The periodic review of the main index and the sector indices is necessary to give investors a reliable and transparent gauge of the market’s performance and trading activity.” he added.
 
The companies that now form part of the PSEi are:
  • Aboitiz Equity Ventures Inc.
  • Aboitiz Power Corp.
  • Alliance Global Group Inc.
  • Ayala Corp.
  • Ayala Land Inc.
  • Bank of the Philippine Islands
  • BDO Unibank Inc.
  • Belle Corp.
  • Bloomberry Resort Corp.
  • DMCI Holdings Inc.
  • Energy Development Corp.
  • First Gen Corporation
  • Globe Telecom Inc.
  • International Container Terminal Services Inc.
  • JG Summit Holdings Inc.
  • Jollibee Foods Corp.
  • Manila Water Company Inc.
  • Megaworld Corp.
  • Manila Electric Company
  • Metro Pacific Investments Corp.
  • Metropolitan Bank & Trust Company
  • Petron Corp.
  • Philex Mining Corp.
  • Philippine Long Distance Telephone Co.
  • Robinsons Land Corp.
  •  
  • San Miguel Corp.
  • Semirara Mining Corp.
  • SM Investments Corp.
  • SM Prime Holdings Inc.
  • Universal Robina Corp.
Apart from the 12-percent minimum public ownership, companies must stay in the Top 25 percent of the 289 issues traded on the PSE in terms of daily value turnover for nine out of 12 months on average, accordign to the PSE. — VS, GMA News
Tags: pseicomposition, pse, philippinestockexchange, philippinestockexchangeindex
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