Robinsons Retail to debut on PSEi, replacing EDC
Gokongwei-led retailer Robinsons Retail Holdings Inc. is debuting on the 30-company Philippine Stock Exchange index, replacing Energy Development Corp.
EDC was removed from PSEi as its free float level fell below the 12 percent minimum public float requirement to qualify as a main index constituent.
Listed in November 2013, RRHI will be included in the PSEi effective Sept. 28 this year.
To qualify for the PSEi, companies must have a public float of at least 12 percent and must be among the top 25 percent by median daily value per month or for at least nine out of 12 months. They must be among the top 30 companies in the exchange based on market capitalization.
PSEi is the basket of the most traded, most liquid and well-capitalized listed firms in the country.