German retailer Metro AG has confirmed that following its split from electronics retailer Ceconomy, it will join Germany’s mid-cap MDAX index.
From 18 September, Metro will be traded on what it describes as Germany’s ‘second most important stock index’, which will increase its ‘visibility and importance’ in the eyes of institutional investors.
The announcement was made by Deutsche Börse as part of its major annual review. The MDAX comprises the 50 largest and most-traded companies in Germany below the DAX 30. Ceconomy is already listed on the MDAX index.
'Important Step'
"We are pleased about the inclusion in the MDAX. This is another important step in the positioning of the new Metro in the capital market,” said Olaf Koch, chairman of the management board of Metro AG. “At the same time, it is motivation and incentive to open up our potential and to further strengthen the confidence placed on us."
Koch added that by joining the MDAX, “we are accessing a larger group of investors. These include, for example, index funds”.
Since July, shares of Metro AG have been traded on the stock exchanges in Frankfurt and Luxembourg.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
