Nickel Asia Corporation and Wilcon Depot, Inc. will move to PSE MidCap index from the main index, the Philippine Stock Exchange, Inc. (PSE) announced.The two firms will be replaced by AREIT, Inc. (AREIT) and China Bangking Corp. (CBC).
AREIT, Inc. (AREIT) will be a first-time member of the PSEi since its August 2020 stock market debut, while China Banking Corporation (CBC) found its way back to the main index since its first inclusion from May 2010 to May 2011.
The two new firms will join the 30-company PSE index (PSEi) as a result of the January to December 2024 index review.
Aside from the above-mentioned index membership switch, Philippine Seven Corporation will also stand in for DDMP REIT, Inc. in the 20-member midcap benchmark.
The PSE Dividend Yield index will see the addition of Robinsons Land Corporation and the removal of International Container Terminal Services, Inc. All sector indices will remain unchanged except for the Industrial sector, with the inclusion of Pryce Corporation and the exclusion of Fruitas Holdings, Inc.“It is notable that our very first listed REIT has also become the first REIT to make it to the PSEi.
This shows the immense potential REITs have as an investment product and serves as a good example for REIT issuers that aspire to maximize this particular type of listing vehicle,” PSE President and CEO Ramon S. Monzon said.
A listed firm must be among the top companies in terms of liquidity and market capitalization to qualify for inclusion in the indices. It should also maintain a free float level of at least 20 percent of its outstanding shares. Relevant financial criteria are likewise considered by the PSE in evaluating the index composition. All the changes in the indices will take effect on February 3, 2025.
