THE venerable Singapore conglomerate Fraser and Neave will be dropped from the Straits Times Index early next month.
It will be replaced by Hutchison Port Holdings Trust (HPH Trust) as one of the 30 STI component stocks from the start of trading on April 3.
The change comes on the back of Thai tycoon Charoen Sirivadhanabhakdi winning control of F&N last month, with the offer acceptance level crossing 90 per cent and its trading halt since Feb 19.
There is also the uncertainty over F&N's future listing status, with the beverage and property conglomerate widely expected to be taken private.
The blue chip has been a part of the revamped STI since Day 1 in January 2008.
HPH Trust, which is linked to Hong Kong billionaire Li Ka-Shing, listed here in March 2011. It will be the first business trust to be included in the STI.
HPH Trust was on the STI reserve list, comprising the five highest ranking non-constituents of the STI by market value.
Companies in the reserve list will take the place of constituents which become ineligible as a result of corporate actions before the next review.
HPH Trust will be replaced by STATS ChipPAC on the FTSE ST Mid Cap Index.