Ibersol to rejoin benchmark PSI share index on 20 March
The company was excluded from the PSI about a year ago, after the changes that reduced the index to 15 companies at that time, with four listed companies leaving.
Ibersol will return to the main benchmark index of the Portuguese stock exchange, now called PSI (Portuguese Stock Index), as of 20 March, Euronext has announced in a statement.
Ibersol is a multi-brand group established in the Iberian Peninsula and in Portuguese-speaking countries. It is positioned in the organised food business, operating a wide network of restaurants in Portugal, through franchises such as Pizza Hut, Burger King, KFC or Pans & Company.
The company was excluded from the PSI about a year ago, after the changes that reduced the index to 15 companies at that time, with four listed companies leaving. The PSI will now include 16 listed companies.
The PSI is revised quarterly in June, September and December, with the annual review taking place in March, Euronext recalled. The PSI started in March 2022, with a first portfolio comprising 15 of the 19 companies that were part of the predecessor PSI20.
At that time, the four companies that were part of the PSI20 but not included in the new index were Novabase, Pharol, Ramada and Ibersol.
The main differences of the new index in relation to the former PSI20 were that it is no longer compulsory to have at least 18 listed companies and that the lower limit of the free float of the market capitalisation (market value of a company’s shares that are effectively in circulation) of the constituent companies has increased to 100 million euros.
When, in August 2021, Euronext announced the creation of the new Lisbon Stock Exchange benchmark index it stated that “the index methodology would also be adjusted to improve the index’s liquidity and efficiency and to better meet users’ needs”.
These changes came after “an extensive public consultation process” including Portuguese and international users of the index and are intended to “improve its attractiveness and quality”, Euronext said at the time.
Besides Lisbon, Euronext manages several European stock markets, such as Paris, Amsterdam, Brussels, Dublin, Oslo and Milan.