Saturday, December 4th 2021
Adjustments also in the SDax
Deutsche Wohnen replace Zooplus in the MDax
The online pet supplier Zooplus is losing its stock exchange after being taken over by two financial investors. The vacant position is given to a housing company. In addition, the trading venue operator will adjust the composition of the small value index SDax on December 20.
The real estate group Deutsche Wohnen is included in the MDax stock market index. The Berlin company will replace the shares of Zooplus in the index for medium-sized stocks from December 20, as announced by Deutsche Börse. The financial investors EQT and Hellman & Friedman had taken over the majority in the online retailer for pet supplies and want to take him off the stock exchange soon. The free float has now fallen so far that it is no longer enough to remain in the Dax family (Dax, MDax, SDax and TecDax), it said.
Experts expected Deutsche Wohnen to return to the Dax family in less than two months. The real estate company was removed from the Dax at the end of October in connection with the takeover by competitor Vonovia. The reason given by Deutsche Börse was a free float that had fallen below ten percent. Shortly afterwards, however, Deutsche Wohnen informed about the early exercise of a so-called convertible bond. The resulting increase in the number of shares brought the free float back above the ten percent mark – the decisive criterion in the case.
There are also several changes in the SDax small-cap index as of December 20: The drive subsidiary Vitesco, which has been spun off from the automotive supplier Continental, is replacing the online furniture retailer Home24. Heidelberger Druckmaschinen is included in the index for the armaments company Hensoldt, and the IT service provider GFT Technologies replaces the online furniture retailer Westwing. Home24 and Westwing were among the winners of the Corona crisis: their share prices had risen sharply. In the past few months, however, things have gone down again as the corona situation has eased in many regions with progress in vaccinations. In the TecDax, the IT service provider Nagarro will replace the special pump manufacturer Pfeiffer Vacuum.
The changes are particularly important for funds that track indices in real terms. There must then be reallocated accordingly, which can have an impact on the share price.