RL Commercial REIT enters PSE's main index, replaces AGI

Gokongwei-led RL Commercial REIT Inc. (RCR) is entering the 30-company benchmark index of the Philippine Stock Exchange (PSE) as part of the local bourse' regular review of the market's gauges.

In a memorandum dated January 26, 2026, the PSE announced the change in the composition of the PSE index, the main index composed of most liquid and well-capitalized listed firms, with RCR replacing Alliance Global Group Inc. (AGI), effective February 2, 2026.

To qualify for inclusion in the PSEi, a listed firm should be among the top companies in terms of liquidity and market capitalization.

The PSEi is the main index of the PSE, composed of 30 companies, which provides an overview of the stock market's overall health by gauging changes in the share prices of the select listed firms.

The local stock market review also resulted in changes in other indices, such as the PSE Dividend Yield and PSE MidCap indices.

With the reshuffle, AGI will replace RCR in the PSE MidCap index.

The same index will also see the inclusion of Apex Mining Co. Inc. and the exclusion of DoubleDragon Corporation.

Universal Robina Corporation is set to return to the PSE Dividend Yield index, which will also have OceanaGold (Philippines) Inc. as a new component, replacing The Keepers Holdings, Inc. and Security Bank Corporation.

"The regular index review ensures that the companies included in the indices are the best representatives of these benchmarks based on our set criteria," said PSE president and CEO Ramon Monzon.

"Despite headwinds and volatility in the stock market, the PSE MidCap and PSE Dividend Yield indices have significantly outperformed the PSEi in the last two years," said Monzon.

Aside from liquidity and market capitalization criteria, a publicly listed company should have a free float level of at least 20% of its outstanding shares. 

PSE also considers relevant financial criteria in evaluating the index composition. 

These criteria were taken into consideration during the review of indices, covering trading activity from January to December 2025, according to the local bourse.

Of the six sector indices, two—the Holding Firms and Services indices—will maintain their current composition.

No new companies will be added to the Financials and Industrial indices. 

However, National Reinsurance Corporation of the Philippines will be taken out from the Financials index, while Agrinurture Inc., ATN Holdings Inc., and Shakey's Pizza Asia Ventures Inc. will be dropped from the Industrials index.

Moreover, Premiere Island Power REIT Corporation and Benguet Corporation will be the new members of the Property and Mining & Oil indices, respectively. 

No companies will be taken out from the two sector benchmarks. — VDV, GMA Integrated News