SP New Energy Corp. (SPNEC) will now be part of the MSCI Philippines Small Cap Index effective March 1.
The renewable energy is the only addition to the closely watched index, vice MREIT Inc., of Megaworld Corp.
The MSCI Global Small Cap Indexes was release dby index provider MSCI on Monday, and which will take place at the close of market on February 29.
MSCI rebalances its indices semi-annually and quarterly.
Amid the MSCI Philippines Small Cap Index inclusion, interest for the stocks shot up rising by 5.17 percent to P1.22 per share compared to P1.16 on Monday.
The positive development for SNPEC is expected to further stimulate interest in the stock.
New York-listed MSCI has helped global investors build and manage portfolios using its research-based tools and insights on risks and performance.
SPNEC has recently been acquired by the Pangilinan Group, taking a cumulative 55.96 percent stake.
The stakes are held through MGen Renewable Energy Inc. (MGreen) and Metro Pacific Investments Corp. (MPIC).
