Security Bank in PSEi, Bloomberry out

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SECURITY Bank Corp. is now part of the 30-company Philippine Stock Exchange index (PSEi), easing out Bloomberry Resorts Corp.

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In a circular posted on its website on Wednesday, the PSE listed Security Bank as one of the 30 blue chip stocks on the benchmark index as of end-June 2016.

Bloomberry lost its place on the index although it was in the list in December last year.

Security Bank was in the reserve list last December together with Nickel Asia Corp., Puregold Price Club Inc., Robinsons Retail Holdings Inc. and Vista Land & Lifescapes Inc.

“With this regular trading activity review, we hope to ensure that our indices continue to be comprised of stocks that are suitable benchmarks for the market,” PSE President and Chief Executive Officer Hans B. Sicat said in a statement.

The reserve list is composed of five companies with the highest company worth or market capitalization after the top 30 stocks under PSEi. Companies under this list may be considered for PSEi when one or more companies under the benchmark index is deleted during the period surveyed.

Other stocks in the reserve list as of end-June include DoubleDragon Properties Corp. and D&L Industries Inc.
The bourse said the rebalancing of the main index was based on a review of the stocks’ trading activity from July 2015 to June 2016. The change will take effect on September 12.

The PSEi currently includes the following companies: Ayala Corp., Aboitiz Equity Ventures Inc., Alliance Global Group Inc., Ayala Land Inc., Aboitiz Power Corp., BDO Unibank Inc., Bank of the Philippine Islands, DMCI Holdings Inc., Energy Development Corp., Emperador Inc., First Gen Corp., Globe Telecom Inc., GT Capital Holdings Inc., International Container Terminal Services Inc., Jollibee Foods Corp., JG Summit Holdings Inc., and LT Group Inc.

Metropolitan Bank & Trust Company (Metrobank), Megaworld Corp., Manila Electric Company, Metro Pacific Investments Corp., Petron Corp., Robinsons Land Corp., Semirara Mining and Power Corp., SM Investments Corp., San Miguel Corp., SM Prime Holdings Inc., PLDT Inc., and Universal Robina Corp.

The PSE said a stock may only qualify under a sectoral index if it is among the top 50 companies with the highest worth or market capitalization.

The PSE as a company did not qualify for the financials index, and was replaced by AG Finance Inc.
Da Vinci Capital Holdings Inc. and Ionics Inc. also entered the industrial index after Vitarich Corp. was removed, while Pacifica Inc. made it to the holding firms index, replacing IPM Holdings Inc.

IPM Holdings was absorbed into the services index, where it joined Metro Retail Stores Group Inc., Now Corp., SBS Philippines Corp., Yehey! Corp. as newcomers, after the removal of APC Group Inc. and PhilWeb Corp. from the list.

In the property sector, Suntrust Home Developers Inc. rose to the top while IRC Properties Inc. and Primex Corp. were removed from the property index.

The mining and oil sub-indexes were trimmed down as Coal Asia Holdings Inc., Century Peak Metals Holdings Corp. and NiHAO Mineral Resources International Inc. were removed from the list.

To qualify for inclusion in the PSEi, the bourse enumerated three criteria that must be be met: 1) Free float level should be at least 12 percent, 2) They must be among the Top 25 percent by median daily value per month for at least nine out of 12 months, and 3) they should be in the Top 30 based on full market capitalization.

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