QIAGEN to Join Germany’s MDAX Index in Addition to TecDAX
HILDEN, Germany & GERMANTOWN, Md.--(BUSINESS WIRE)-- QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announced today that its global shares will be included in Germany’s MDAX index as of September 24, 2018, in addition to the current listing in the country’s TecDAX index.
The addition to the MDAX – which will now track the next 60 largest companies on the German stock market after the 30 largest stocks in the DAX index – comes as part of a reorganization of index rules adopted by Deutsche Boerse, operator of the Frankfurt Stock Exchange.
The new rules for the indices remove the previous separation of companies into the “Tech” segment (in which QIAGEN has been a member since 2003) and the “Classic” segment (traditional businesses). Technology sector companies will now be eligible for listing in the DAX, MDAX or SDAX based on market capitalization and trading volume, while also being eligible for membership in the TecDAX, which will continue to comprise the 30 largest technology companies measured by market capitalization and sales.
“The MDAX and TecDAX indices are each used as performance benchmarks by some investors, especially through the use of exchange-traded funds (ETFs), and we believe the changes in the German stock market indices will create additional opportunities for QIAGEN’s global shares to be held by investors around the world,” said Roland Sackers, Chief Financial Officer of QIAGEN N.V.
The changes in the German stock market indices have no impact on the listing of QIAGEN’s global shares on the New York Stock Exchange.
Please find the full press release here
Source: QIAGEN N.V.