Bilyonaryo - Business

Consunjis’ DMCI and Aboitiz-led UnionBank in, RLC and Megaworld out in PSEi

January 27, 2023

Bilyonaryo.com

The listed holding company of the Consunji family and the banking arm of the Aboitiz family are joining the Philippine Stock Exchange index (PSEi) on February 6.

ALSO READ: Aboitiz’s Union Bank, Consunji’s DMCI widely expected to join PSE Index

DMCI Holdings and Union Bank of the Philippines will replace tycoon Andrew Tan’s Megaworld Corp. and bilyonaryo Frederick Go-led Robinsons Land Corp. in the 30-member PSEi, based on the January to December 2022 stock performance of the local bourse.

To qualify for inclusion in the index, the index considers liquidity, market capitalization and free float level of at least 20 percent of a company’s outstanding shares.

“We hope to see improved liquidity in the stock market with more shares available from companies that want to remain or qualify for future inclusion in any of the indices,” said PSE president and CEO Ramon Monzon.

In terms of sectoral indices, Gotianun-led East West Banking Corp. will be taken out of financials index, while Basic Energy and retail magnat Lucio Co’s The Keepers Holdings will be included in the Industrial index to replace Vitarich.

The property index will see the addition of D.M. Wenceslao & Associates, Filinvest REIT, MREIT, and RL Commercial REIT.

To be removed from the property index are Philippine Infradev Holdings and Philippine Estates Corp.

Meanwhile, ultra bilyonaryo Manny Villar’s AllDay Marts and Medilines Distributors will join the services index. To be taken out are Metro Retail Stores Group and Philippine Seven Corp.

Lopez Holdings will be added to the holding firms index, while Bengut will be dropped from the mining and oil index.

For the PSE dividend yield index, Citicore Energy REIT Corp., UnionBank and Security Bank will replace Bank of the Philippine Islands, DDMP REIT and Filinvest REIT.

Related News Tags: DMCI, Megaworld, Philippine Stock Exchange index (PSEi), RLC, UnionBank

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