Vonovia to replace Lanxess in Germany's DAX index (updated)

Gerry Weber International AG

03/09/2015 21:19

* Vonovia to join DAX on Sept. 21 
    * Vonovia market value more than tripled since IPO 
    * Lanxess to move to MDAX index 
 
 (Adds further details, timing of change) 
    FRANKFURT, Sept 3 (Reuters) - Vonovia  VNAn.DE , which just 
changed its name from Deutsche Annington, will be added to the 
DAX index  .GDAXI  of leading German shares after a raft of 
acquisitions helped the real estate group expand rapidly 
following its flotation in 2013. 
    Stock exchange operator Deutsche Boerse  DB1Gn.DE  said on 
Thursday Vonovia's stock would replace Lanxess  LXSG.DE , the 
world's largest synthetic rubber maker, in the first shake-up of 
the country's top share index in three years. 
    Lanxess will move to the MDAX  .MDAXI  index of medium-sized 
companies when the changes take effect on Sept. 21. 
    The 30 names making up the DAX  .GDAXI  are reviewed 
annually but have remained unchanged since September 2012. In 
contrast, the UK FTSE 100  .FTSE  is reviewed every quarter, 
usually leading to some changes. 
    Membership of the DAX is dependent on two criteria -- 
trading volumes and the value of the shares in free float. 
    The market value of Vonovia has more than tripled to around 
13 billion euros ($14.7 billion) from about 4 billion when it 
was first listed on the stock exchange in 2013. Lanxess' value 
has meanwhile not changed much, hovering around 4 billion. 
    The next regular index review will be held on Dec. 3. 
    ($1 = 0.8862 euros) 
 
 (Reporting by Maria Sheahan; Editing by Victoria Bryan) 
 ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters 
Messaging: maria.sheahan.thomsonreuters.com@reuters.net)) 
 
Keywords: GERMANY STOCKS/