Business

MSCI shakeup: Lucio Co rising; Villar, Consunji in; Lucio Tan, Gotianun, Saavedra out

The lockdown lucky streak of bilyonaryo Lucio Co continues.

The lockdown lucky streak of bilyonaryo Lucio Co continues.

Co’s Puregold Price Club, Inc., the hottest stock in the market with a 51 percent gain since President Rodrigo Duterte declared a lockdown in mid March, is set to join the heavyweights in Morgan Stanley Capital International (MSCI) Philippine Index.

Based on changes set to be made by May 29, Puregold will replace Security Bank of Frederick Dy in MSCI Index.

Security Bank will move to the MSCI Philippine small cap index along with new additions AllHome Corp. of Manny Villar and DMCI Holdings of the Consunji family.

Out of the small cap index are Macroasia Corp. of Lucio Tan, East-West Bank of the Gotianuns and Megawide Construction of Edga Saavedra.

The MSCI Philippines Index tracks 21 large and mid cap segments that account for 85 percent of the Philippines market.The MSCI small cap index measures the movement of 17 companies that account for 14 percent of the local market cap.

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