Emperador, which listed on the Singapore Exchange (SGX) in July, has displaced ComfortDelGro (CDG) as one of the 30 constituents on the benchmark Straits Times Index (STI).
As at its last-closed share price of 49.5 cents, the Mainboard-listed brandy maker has a market capitalisation of $7.8 billion. ComfortDelGro's market capitalisation, as at its last-closed share price of $1.40, stands at $3.04 billion.
Emperador received its eligibility to list on the SGX on April 13. It is the first Philippine Stock Exchange-listed company to have a secondary listing on the SGX. Its controlling shareholder is the Philippine conglomerate Alliance Global Group, which has a 84.57% stake in the company.
The STI reserve list now comprises Olam Group, Suntec REIT, Keppel REIT, Frasers Centrepoint Trust (FCT) and Ascott Residence Trust (ART). These are now the five highest ranking non-constituents of the STI by market capitalisation. Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate actions before the next review.
All changes to the constituent will take effect at the start of trading on Sept 19. The next review will take place in December.
The Straits Times Index (STI) closed 2.41 points higher or 0.07% up at 3,224.08 points on Sept 1.