Gagfah, Germany's largest listed residential landlord, is to replace retailer Fielmann in the MDAX index of 50 medium-sized stocks, Deutsche Boerse, the operator of the Frankfurt stock exchange has announced. The change will take effect on December 18.
Gagfah, Germany's largest listed residential landlord, is to replace retailer Fielmann in the MDAX index of 50 medium-sized stocks, Deutsche Boerse, the operator of the Frankfurt stock exchange has announced. The change will take effect on December 18.
Gagfah was admitted under the 'fast-entry rule' because the company is ranked 40th or higher in terms of both market capitalization and trading volume, Deutsche Boerse said. Fielmann will move to the SDAX, where it will replace high-tech plastics developer Masterflex. The next equity index review is scheduled for March 5 next year.
Since it began trading in mid October, Gagfah has gained 32% from its offer price of EUR 19. This values the company at EUR 5.6 bn. Fielmann, on the other hand, gained 5.4% in recent months, while the MDAX index increased 7.7%. Being included in the index can boost a company's share price as funds that track the index have to buy the shares included in it.
