The Deutsche Börse AG, a German multinational offering marketplace organizing for the trading of shares and other securities, announced its decision on 6 May 2023 on the new composition of the DAX index family with effect from 19 June 2023.
The DAX, MDAX, SDAX and TecDAX indices were reviewed on the basis of the Fast Exit and Fast Entry rules.
As a result of the periodic review, Krones AG shares will be promoted from the SDAX to the MDAX index. After five years in the SDAX, Krones is returning to the MDAX, Germany’s midcap index comprising 50 companies. Index members are selected on the basis of free-float market capitalization.
The indices allow investors to gain exposure to the German market and implement investment strategies in a transparent, rules-based and cost-effective manner.
“We are delighted that our shares have been promoted to the MDAX. This also reflects the sustained successful development of our company,” said Krones CEO Christoph Klenk. “Irrespective of index membership, the entire Krones team is focused on implementing the corporate strategy with our new target picture, Solutions Beyond Tomorrow,” Klenk added.
The Krones Group, headquartered in Neutraubling, Germany, plans, develops and manufactures machines and complete systems for the areas of process, filling and packaging technology. Krones also offers solutions for the bottle-to-bottle recycling of PET bottles.