{"id":325105,"date":"2023-09-28T00:35:29","date_gmt":"2023-09-27T16:35:29","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=325105"},"modified":"2023-10-05T01:42:48","modified_gmt":"2023-10-04T17:42:48","slug":"free-report-psei-index-composition-rebalancing","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/free-report-psei-index-composition-rebalancing\/","title":{"rendered":" Commentary: Which company would likely be included next in the PSEi?"},"content":{"rendered":"\n

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Analysis and Recommendation<\/h2>\n\n\n\n

AP, MPI out<\/strong><\/h3>\n\n\n\n

The PSE made unscheduled changes to the benchmark PSE index (PSEi) after Metro Pacific Investments (MPI) <\/strong>disclosed its preliminary tender offer report, which shows that 19.04% of its outstanding shares has been submitted for tender. This would result to a public float of 2.78% once the shares are crossed on September 26, and will pave the way for MPI\u2019s planned voluntary delisting. <\/p>\n\n\n\n

Aboitiz Power Corp. (AP)<\/strong>, on the other hand, submitted a Public Ownership Report showing that its public float has fallen to 19.98% as of September 18 following a series of related party and share buyback transactions. This disqualifies it from inclusion in the PSEi, which requires a public float of at least 20.0%. Additional transactions after the said date has taken AP\u2019s public float lower to 19.86%.<\/p>\n\n\n\n

BLOOM and CNPF are in<\/strong><\/h3>\n\n\n\n

Enrique Razon\u2019s integrated casino developer Bloomberry Resorts Corp. (BLOOM)<\/strong> and the Po Brothers\u2019 processed food maker Century Pacific Food, Inc. (CNPF)<\/strong> are set to replace AP and MPI on the PSE Index. <\/p>\n\n\n\n

BLOOM was previously removed from the index due to a massive drop in its market capitalization during the COVID-19 lockdowns, while CNPF will be added to the index for the first time. Changes to the index composition will take effect on market open on September 26.<\/p>\n\n\n\n

Which company is next?<\/strong><\/h3>\n\n\n\n

As things stand, we don\u2019t expect further changes to be made when the scheduled rebalancing is announced in February. However, it is still too early to tell, and off-hand Converge ICT Solutions (CNVRG)<\/strong> is perilously close to falling out of the top 30 in terms of market capitalization. <\/p>\n\n\n\n

In the event that its share price falls further, Nickel Asia Corp. (NIKL)<\/strong> would be next in line for inclusion in the index.<\/p>\n\n\n\n

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Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1236],"tags":[],"class_list":["post-325105","post","type-post","status-publish","format-standard","hentry","category-free-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/325105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=325105"}],"version-history":[{"count":5,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/325105\/revisions"}],"predecessor-version":[{"id":325228,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/325105\/revisions\/325228"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=325105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=325105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=325105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}