Thursday, September 29

Siemens Energy to Replace HelloFresh in Germany’s DAX Index


Siemens Energy AG will rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to index provider Qontigo.

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(Bloomberg) — Siemens Energy AG will rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to index provider Qontigo.

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The changes to the DAX Index are effective Sept. 19, Qontigo said in a statement Monday. The blue-chip gauge includes the 40 largest German listed companies, based on free-float-adjusted market value, and that meet criteria for profitability and corporate governance.

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Siemens Energy has a market value of 10.3 billion euros ($10.2 billion), while HelloFresh has a market capitalization of 4.2 billion euros.

Siemens Energy, a spinoff from Siemens AG, was removed from the DAX last March after only a year on the index. Its shares have lost nearly 30% since news of its exclusion from the benchmark. HelloFresh shares, meanwhile, have tumbled 65% so far this year.



financialpost.com

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