Wednesday October 27, 2021
Replacement for Deutsche Wohnen
Beiersdorf is part of the Dax family again
Half a year after leaving, Nivea producer Beiersdorf returns to the Dax. The Hamburg group replaces the Deutsche Wohnen share in the leading German index. The real estate company said goodbye to the top 40 after the mega-merger with competitor Vonovia.
After a good six months, the Hamburg consumer goods manufacturer Beiersdorf is once again one of the most important listed companies in Germany. With effect from Friday, the Tesa producer will move into the German leading index Dax, which it had to leave in the spring. It is the first change since the Dax was expanded from 30 to 40 values in September.
Beiersdorf is replacing Deutsche Wohnen’s shares in the Dax, as announced by Deutsche Börse. The housing group has to move out of the index after it was taken over by its larger competitor Vonovia. Vonovia had previously reported a stake of almost 88 percent in Deutsche Wohnen.
According to the stock exchange, less than ten percent of Deutsche Wohnen shares are in free float. According to the regulations of the stock exchange, the company is not only excluded from the Dax, but also from all major indices. Vonovia has so far spent around 17 billion euros on Deutsche Wohnen shares and is managing 568,000 apartments after the mega-merger.
For Beiersdorf, the Hanover-based insurance group Talanx is moving up in the MDax small-cap index. This frees up a place in the small value index SDax that goes to Basler AG, a manufacturer of image processing systems from Ahrensburg near Hamburg.