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MSCI to Remove San Miguel, Add Metro Pacific in Global Standard Indices

Philippine conglomerate San Miguel Corp. (SMC.PH) will be removed from the MSCI Global Standard indices as the stock index undergoes rebalancing, the investment research firm said Thursday.Changes in the MSCI indices are closely followed by investors, and the removal of a company usually undermines its stock price. On Thursday, shares of San Miguel are down 5.0% to PHP116.80 on news of its impending removal from the index.MSCI, a provider of investment decision support tools to around 7,500 clients worldwide, said that San Miguel's spot will be taken by Metro Pacific Investments Corp. (MPI.PH) starting May 31. Both San Miguel and Metro Pacific are constituent stocks of the PSEi, the Philippine Stock Exchange's main performance barometer.Adjustments in the MSCI Global Small Cap indices will also see the removal of two PSEi constituent stocks--property developers Megaworld Corp. (MEG.PH) and Robinsons Land Corp. (RLC.PH). On top of that, conglomerate GT Capital Holdings (GTCAP.PH), Pureg...

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  1. San Miguel Brewery Plans Stock Exchange Delisting on May 15

    San Miguel Brewery Inc. (SMB.PH) has announced plans to delist from the Philippine Stock Exchange on May 15, a month after its expected completion of a tender offer ...

  2. San Miguel Brewery Board Approves Delisting From Philippine Bourse

    San Miguel Brewery Inc. (SMB.PH) said Monday its board has approved its voluntary delisting from the Philippine Stock Exchange.The company's board has also approved ...

  3. San Miguel Properties Seeks Delisting; Tender Offer to Shareholders Starts Feb 27

    The property arm of conglomerate San Miguel Corp. (SMC.PH) will delist its shares from the Philippine Stock Exchange rather than attempt to meet the exchange's 10% m...

  4. GDP Report Shows Philippines Juggernaut Going Strong

    One of last year's top-performing emerging markets and the corresponding may be up to their old tricks again if an economic data point delivered Wednesday night is a...

  5. ICTSI Approves Unit Issuing Up to $750 Million in Bonds

    International Container Terminal Services Inc. (ICT.PH) will announce soon the size of the first tranche of a medium-term bonds for its unit ICTSI Treasury B.V., it ...

  6. Bank of the Philippine Islands, Philippine National Bank Confirm Talks Of Merger

    Bank of the Philippine Islands (BPI.PH) and the Philippine National Bank (PNB.PH) confirmed Wednesday they are in talks toward a possible merger."We confirm that the...

  7. Pure Foods Says Share Sale to Raise $182 Million for Parent Firm San Miguel

    San Miguel Pure Foods Co. (PF.PH) said parent company San Miguel Corp. (SMC.PH) plans to raise around 7.5 billion Philippine pesos ($182 million) from the sale of sh...

  8. ICTSI Unit Raises Stake in Pakistan Cargo Terminal to 41.6%

    International Container Terminal Services Inc. (ICT.PH) said Wednesday its unit raised its stake in Pakistan International Container Terminal Ltd. (PICT.KA) to 41.6%...

  9. San Miguel Pure Foods Begins Premarketing for up to $400 Million Share Sale -Sources

    San Miguel Pure Foods Co. (PF.PH), which is run by Philippine billionaire Ramon Ang, has started testing investor appetite for a share sale that could raise up to $4...

  10. San Miguel Pure Foods Begins Premarketing for up to US$400 Million Share Sale -Sources

    San Miguel Pure Foods Co. (PF.PH), which is run by Philippine billionaire Ramon Ang, has started testing investor appetite for a share sale that could raise up to US...

  11. San Miguel to Delist Units if Non-Compliant With Public Ownership Rule by End 2012

    Philippine conglomerate San Miguel Corp. (SMC.PH) said Tuesday it will voluntarily delist units that are non-compliant with the minimum public ownership rule by the ...

  12. SM Investments Raises $150 Million Via Sale of 9.1 Million Shares

    SM Investments Corp. (SM.PH) said Friday it has issued $150 million worth of new shares to institutional investors through a top-up placement.The Philippine conglome...

  1. Philippine Bourse Approves Delisting of San Miguel Properties

    The Philippine Stock Exchange said Friday that it has approved a request by San Miguel Properties Inc. (SMP.PH) to be delisted from the bourse for its failure to com...

  2. Trading in Melco Resorts Suspended Ahead of Share Pricing

    Trading in shares of Melco Crown (Philippines) Resorts Corp. (MCP.PH) will be suspended during the morning session Wednesday, the Philippine stock exchange said, ahe...

  3. Emerging Asia, Japan ETFs And The Correlation Myth

    As Japanese Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda have moved to employ an ultra-loose monetary policy that would make even Federal Res...

  4. Philippine Airlines to Take 49% Stake in New Cambodian Carrier

    Philippine Airlines Inc. is planning to take a 49% stake in a new Cambodian airline, according to San Miguel Corp. (SMC.PH), which shares control of the Philippine c...

  5. Philippines SEC Releases New Guidelines on Foreign Ownership

    The Philippines Securities and Exchange Commission released a new draft of guidelines for determining foreign ownership in industries such as real estate, telecommun...

  6. PAL Holdings' Major Holders to Sell Shares to Keep Firm Listed

    Two major shareholders of PAL Holdings Inc. (PAL.PH), the listed parent of Philippine Airlines Inc., are ready to sell some of their stocks to comply with the minimu...

  7. Philippine Bourse Rejigs Index; Bloomberry Replacing SM Development

    Casino-hotel operator Bloomberry Resorts Corp. (BLOOM.PH) will replace property company SM Development Corp. (SMDC.PH) on the main PSEi from March 11, the exchange s...

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