August 27, 2014 / 9:21 AM / in 3 years

Emperador Distillers to join Philippines' key stock index

MANILA, Aug 27 (Reuters) - Philippine liquor maker Emperador Inc is set to debut in the Philippines’ benchmark stock index on Sept. 15, replacing the country’s largest miner Philex Mining Corp, the bourse said on Wednesday.

Emperador, which mainly makes brandy, will join the 30-company index following a year-long review of trading activities, the exchange said in a statement.

The Philippine Stock Exchange changes the PSEi’s composition based on a stock’s liquidity, free float and market capitalisation.

Hong Kong-listed First Pacific Company Ltd is the principal investor in Philex.

The PSE is the only stock exchange in the Philippines. It has 260 listed companies and 133 active trading participants. (Reporting By Neil Jerome Morales; Editing by Miral Fahmy)

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