Tuesday, April 24, 2018
  • share this

Bloomberry Resorts set to join PSE elite roster

/ 09:30 PM February 28, 2013

Bloomberry Resorts Corp., the gaming firm of tycoon Enrique Razon Jr., will join the 30-company roster of the Philippine Stock Exchange index on March 11.

Bloomberry will replace the SM group’s residential development arm SM Development Corp. in the main stocks index, the PSE announced Thursday.

The PSE index is made up of companies with the largest market capitalization. It is the country’s most liquid and closely watched stocks.


The recomposition of the PSEi was a result of a review conducted from January to December last year, the local bourse said.

To be included in the PSEi, a listed company must satisfy three prime requirements—the free float level, liquidity and full market capitalization.

Under PSE rules, a company can join the PSEi if it rises above the 25th position, in terms of full market capitalization, to replace the company that ranks the lowest.

The same rules provide that a company may be deleted in the PSEi if it falls below the 35th position, in terms of full market capitalization, and replaced by the company with the highest market cap among those included in the “reserve” list.

Bloomberry is expected to open its gaming hub Solaire Manila in Pagcor City by March this year, thereby becoming the first player in the country’s Las Vegas-style tourism hub.

As of yesterday morning, Bloomberry had a market cap of about P152.5 billion, while SMDC had a market cap of about P83.4 billion.

The SM group is currently studying a proposal to consolidate its property-related interests. In particular, it may fold SMDC into flagship SM Prime Holdings.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bloomberry Resorts Corp., Business, Gaming, PSE index
For feedback, complaints, or inquiries, contact us.

DILG to Cagayan LGU: Shape up or lose P90M

April 25, 2018 05:07 AM


Lapu-Lapu, national hero

April 25, 2018 05:07 AM


Alab sets sights on 2-0 cushion

April 25, 2018 05:06 AM


Dance for the brain

April 25, 2018 05:06 AM


Removal of boy’s kidneys ‘drastic’ move

April 25, 2018 05:06 AM

© Copyright 1997-2018 INQUIRER.net | All Rights Reserved