The holding firms of tycoons Lucio Tan and George Ty will replace Manila Electric Co. (Meralco) and Belle Corp. on the list of firms making up the benchmark index of the Philippine Stock Exchange (PSE).
The PSE announced on Wednesday that the new composition of Philippine Stock Exchange index (PSEi) will take effect on September 16. The new structure of the 30-member benchmark index will no longer include Meralco and Belle Corp. They will be replaced by LT Group Inc. (symbol LTG) and GT Capital Holdings Inc. (symbol GT Cap).
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