Consunji-led Semirara Mining and Power Corp. is joining the Philippine Stock Exchange Index (PSEi) on Aug. 8 amid a boom in commodity stocks and assets, which was partly triggered by the Russia-Ukraine conflict.
Semirara, whose share price surged by more than 80 percent in 2022, will replace Security Bank Corp. in the 30-member PSEi, which includes some of the country’s largest and most actively traded companies.
The PSE said the index review was carried out from July 2021 through June 2022. It was imposing stricter public ownership requirements for future evaluations, PSE president Ramon Monzon said.
“This is the last index recomposition with a free float requirem…
Keep on reading: Semirara Mining to join PSE Index