BIZ BUZZ: DigiPlus in, Bloom out?
Half of the eventful year is over, and even more changes are in store in the next half, starting with the rebalancing of the 30-company Philippine Stock Exchange Index.
After adding AREIT and China Banking Corp. earlier this year, Biz Buzz sources say that online gaming juggernaut DigiPlus is also on its way to the index following the review ending June 30, possibly replacing Bloomberry Corp.
A listed firm must be among the country’s top companies in terms of liquidity and market capitalization to qualify for inclusion in the index.
It should also maintain a free float level of at least 20 percent of its outstanding shares. Relevant financial criteria are likewise considered in the evaluation of the final index composition, according to the Philippine Stock Exchange.
DigiPlus—led by Forbes Magazine’s breakout billionaire Eusebio “Yosi” Tanco—has long been rumored to join the elite group given its status as a market darling, even if its share prices have been rocked by concerns over rising regulatory risks in the online gaming sector.
Its numbers so far, however, have been compelling enough.
At the end of the first quarter, its revenues surged 69 percent year-on-year to P23.06 billion while its net income more than doubled to P4.2 billion.
Most recently, DigiPlus—operator of BingoPlus that helped boost DigiPlus’ registered user base to 40 million last year—made it to Fortune Southeast Asia 500 list for the second straight year, rising 259 spots from 2024.
Will these be enough to merit index inclusion?
We will all soon find out.
