Three stock market newcomers from this autumn are set to secure a spot in the Deutsche Börse stock indices just before Christmas.
The automotive supplier Aumovio, spun off from tire manufacturer Continental, will be included in the mid-cap index MDax on December 22, alongside TKMS, the submarine and frigate manufacturer brought to market by Thyssenkrupp, according to a Wednesday evening announcement by ISS Stoxx, a Deutsche Börse subsidiary. Making way for them are Düsseldorf-based packaging producer Gerresheimer--following dashed investor hopes for a takeover--and meal-kit delivery service HelloFresh, both of which will be relegated to the SDax.
As expected, there will be no changes in the Dax, the leading index comprising the 40 most important stocks on the Frankfurt Stock Exchange.
New to the small-cap SDax is prosthetics manufacturer Ottobock, the only company to raise fresh capital through an IPO in Frankfurt this autumn. There are three additional SDax entrants: Tonies, maker of the children's audio box "Toniebox"; biofuel producer Verbio; and Berlin-based software firm PSI, which is on the verge of being acquired by private equity investor Warburg Pincus and could therefore soon exit the SDax. Warburg Pincus has already secured a majority stake.
In total, six companies must leave the SDax. Among them are 2023 newcomer Nucera, the hydrogen subsidiary of Thyssenkrupp, and personnel services provider Amadeus Fire, which first joined the index in 2010. Other companies being dropped include biotech firm Formycon, biotech equipment supplier Stratec, Eastern Europe-focused bank ProCredit, and laser technology specialist LPKF. Index membership is determined by the market value of free float shares and trading volume.
(Report by Alexander Hübner; Edited by Scot W. Stevenson; For questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economic affairs) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
