Century Properties Group joins FTSE Microcap Index

LISTED developer Century Properties Group, Inc. (CPG) has been added to the Financial Times Stock Exchange (FTSE) Global Equity Index Series (GEIS) – Microcap Index, the company said on Monday.

“Inclusion in the index enhances the company’s visibility in global capital markets and may potentially increase liquidity and broaden its shareholder base,” CPG said in a disclosure.

The FTSE Microcap Index is part of the globally recognized FTSE Global Equity Index Series, which serves as a benchmark for institutional investors and fund managers worldwide.

“We are honored by this inclusion, which represents a key milestone in our growth trajectory,” CPG President and Chief Executive Officer Marco R. Antonio said.

“This recognition underscores the strength of our business model and our commitment to delivering long-term value to our stakeholders — from homebuyers and communities to our shareholders.”

CPG also noted that its free float improved from 27.4% to 34.21% after the Social Security System (SSS) acquired a 6.4% stake in July.

“CPG’s stock price and trading liquidity should benefit from fund flows from foreign money managers who track the FTSE Microcap Index. Being part of a reputable stock index also lends a certain stature to CPG that could attract more institutional investors,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said.

Earlier this year, the developer announced plans to launch 10 projects under its first-home residential development segment, PHirst, over the next two years, totaling more than 10,000 units across seven administrative regions.

CPG reported a 14% growth in first-half net income to P1.22 billion, driven by its affordable housing segment.

At the local bourse on Monday, CPG shares closed flat at 69 centavos each. — Beatriz Marie D. Cruz