Porsche To Join Germany's Blue-Chip Index - What's On The Cards?

Author: Shivani Kumaresan | December 06, 2022 07:30am

Porsche Automobile Holdings (OTC:POAHY) is slated to enter into Germany’s blue-chip index over three months after its market debut.
The index lists the 40 largest German stocks in terms of market capitalisation and revenue on the Regulated Market of the Frankfurt Stock Exchange.
The decisive criterion for the fast entry is the market capitalisation of the free float.
"First: our business model is robust and attractive to investors, even in a challenging environment. Second: our definition of modern luxury is convincing, in focusing on sustainability and in assuming social responsibility," said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT.
The sportscar maker, Reuters reported, will replace sportswear maker Puma SE (OTC:PUMSY) on the DAX stock index on December 19.
Puma on the other hand will be moved down to the MDAX index.
Also Read: Volkswagen Plans Special Dividend From Porsche IPO In January
Porsche shares have gained over 30% since their September market debut in Germany.
Price Action: POAHY shares closed higher by 0.16% at $6.12 on Monday.
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