Porsche will join Germany's blue-chip index - Deutsche Boerse (updated)

Verbio SE

05/12/2022 21:59

(Adds background, detail on changes)
       BERLIN, Dec 5 (Reuters) - German sportscar maker Porsche
AG  P911_p.DE  will join the blue-chip index, just over two
months after its market debut, exchange operator Deutsche Boerse
 DB1Gn.DE  said on Monday.
    Porsche AG will replace sportswear maker Puma  PUMG.DE  on
the DAX stock index  .GDAXI  on Dec. 19 while Puma will move
down to the MDAX index  .MDAXI , it said.
    Shares in Porsche have gained around 30% since their listing
in Germany in late September. The carmaker quickly overtook its
former parent Volkswagen - which holds 75% minus one ordinary
share of Porsche AG's total share capital - as Europe's most
valuable carmaker. 
    Both Volkswagen and its majority owner Porsche SE
 PSGH_p.DE  are on the DAX index as well.
    Deutsche Boerse periodically reassesses the composition of
the index using trading data to measure market value and trading
volume as a basis for deciding which companies to include.
    Last year, the index was expanded to 40 companies from 30 in
its biggest overhaul in history.
    Bioenergy company Verbio  VBKG.DE  will also join the
mid-cap MDAX index, while real estate firm Deutsche Wohnen
 DWNG.DE   and battery maker Varta  VAR1.DE  will be demoted to
the small-cap SDAX  .SDAXI .
 (Reporting by Sarah Marsh; Editing by Mark Porter and Sandra
Maler)
 ((sarah.marsh@thomsonreuters.com; +49 30 220133621; Reuters
Messaging: sarah.marsh.thomsonreuters.com@reuters.net))