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Manila Electric rejoins Philippines' key stock index
February 24, 2014 / 5:56 AM / 4 years ago

Manila Electric rejoins Philippines' key stock index

MANILA, Feb 24 (Reuters) - Manila Electric Co (Meralco) will rejoin the Philippines’ 30-company benchmark stock index by March 17, replacing Manila Water Co Inc., the bourse said on Monday.

Meralco, the country’s largest power utility, was removed from the main index PSEi from August last year following a regular review of trading activities.

The return of Meralco followed a review of trading activities from January to December, the bourse said in statement.

The Philippine Stock Exchange changes the PSEi’s composition based on a stock’s liquidity, free float and market capitalisation. (Reporting by Erik dela Cruz; Editing by Sunil Nair)

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