News – PH – Premiere Horizon is included in the global stock index

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MANILA, Philippines – Premiere Horizon Alliance Corp (PHA) is expected to be included in the FTSE Global Equity Index series for the Asia Pacific region on the FTSE Micro Cap and FTSE Total Cap

The recording will be on 19 Effective March, PHA announced yesterday in a message to the Philippine Stock Exchange

The FTSE Global Equity Index series for Asia Pacific excluding Japan and China is being closely tracked

“The FTSE Global Equity Index Series (GEIS) provides market participants with a set of seamless global equity benchmarks for use in developing institutional guidelines for investors and as a foundation for index-linked products,” said PHA

PHA made the index after being able to meet the requirements for index inclusion such as eligibility screening for minimum voting rights, minimum free float and foreign ownership, a minimum investable market cap of 25 million USD and liquidity thresholds to limit the average daily trading volume per month

PHA with an average daily trading volume of 190 million Pesetas previously announced that SquidPay Technology Inc (SPT), a leading fintech company, will acquire 55 percent of the shares in PHA for 925 million pesetas

So far, the cash payment of 300 million Pesetas closed, and the balance of 625 million Pesetas will be made up of a combination of cash and SPT stocks

PHA is a publicly traded investment holding that operates through its subsidiary Premiere Georesources and Development Inc (PGDI); Real estate development through its subsidiary Goshen Land Capital Inc and tourism property development through its subsidiary West Palawan Premiere Development Corp (WPP)

Currently WPP is converting it to PHA Land, a real estate development company that aims to drive landscape and community development, early residential and residential projects, resort and leisure destinations, and light industry logistics hubs

Apart from these existing businesses, PHA recently announced the acquisition of agritech through its subsidiary PHAgriForest

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Stock market index, FTSE Global Equity Index Series, stocks

News – PH – Premiere Horizon to be included in the global stock index
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Premiere Horizon will be included in the global stock index

Source: https://www.philstar.com/business/2021/02/23/2079666/premiere-horizon-be-included-global-equity-index