Lucio co-led Puregold joins PSEi, Andrew Tan’s Emperador out
Puregold is set to join the 30-company Philippine Stock Exchange index effective March 13.
Owned by retail magnate Lucio Co, Puregold will replace property tycoon Andrew Tan’s liquor firm Emperador Inc. on the PSEi.
PSEi is the roster of the country’s most liquid, largest-in-market-capitalization stocks and most closely watched stocks.
The recomposition of the PSEi was as a result of a review conducted from January to December last year.
Under the PSE rules, a company can join the PSEi if it rises above the 25th position by full market capitalization, to replace the company that ranks the lowest.