Dhe Porsche AG will be listed in the Dax from December 19th. This was announced by Deutsche Börse late Monday evening. It makes use of its “Fast Entry” rule, according to which companies whose value has developed particularly well can also be included in the Dax outside of the usual two adjustment times in September and March.
Porsche achieved this impressively with a share price development from 82.50 euros at the IPO at the end of September to 105.70 euros on Monday evening. Porsche welcomed Deutsche Börse’s decision to be included in the leading German index. “We are very pleased about the quick, direct entry into the Dax,” said Lutz Meschke, deputy CEO of the car manufacturer and responsible for finance, in a statement.
The recording shows that Porsche’s business model is “robust and attractive for investors even in a challenging environment”. Porsche’s “definition of modern luxury” is convincing. Meschke, who has been on the Porsche board of directors for more than a decade, has been a driving force behind the IPO in recent years.
Only Tesla and Toyota are more valuable
Porsche’s return to the stock exchange floor was the second largest IPO in German economic history after Deutsche Telekom in 1996. The IPO is considered a great success, particularly in view of the difficult economic and geopolitical situation. In terms of market capitalization, Porsche is now the most valuable manufacturer in Europe. Worldwide, only Tesla and Toyota are ahead of the Stuttgart company.
The Porsche AG share should not be confused with the Porsche Automobil Holding SE preference share, which was and is in the Dax before Porsche AG. It has only 35 employees and their voting rights are 100 percent in the hands of the Porsche and Piech families. The holding company holds the majority stake in VW ordinary shares and, since Porsche AG went public, also a minority stake in Porsche AG shares of initially 17.5 percent, which is expected to increase to 25 percent plus one share in January.
For Porsche, Puma shares have to leave the Dax from December 19th. Puma had the lowest market value of all Dax shares in the relevant November ranking, based on the freely tradable shares in a company.
Puma will then be listed in the M-Dax, as will Verbio. After a very good performance in recent years, the biofuel manufacturer from Saxony-Anhalt has made the leap into the M-Dax. The battery manufacturer Varta and Deutsche Wohnen have to leave the index of the 50 medium-sized values.
They are included in the S-Dax. Elmos Semiconductor SE and ADVA Optical Networking SE are also moving there. About You Holding SE, Instone Real Estate Group and Medios AG have to leave the S-Dax.