On Friday, Deutsche Börse announced an unscheduled change to MDAX. As a result of the expected acquisition of Kuka AG by the acquirer MECCA International (BVI) Limited, the Kuka AG current share class (ISIN DE0006204407) in the index will be replaced with the tendered share class of Kuka AG (ISIN DE000A2BPXK1). These changes also apply to the DAXplus Maximum Dividend index and will become effective on 13 July 2016.
According to the Guide to the Equity Indices of Deutsche Börse, this index change is implemented with two trading days notice once an acceptance threshold of at least 50 percent is reached. The number of shares and the free float factor are set to be equal to the values of the current share class in the indices.
Once the final tender period ends, depending on the acceptance threshold, the tendered share will be either replaced by the share of another company or the prior share line of Kuka AG. This process ensures that the relevant criteria of index continuity and tradability are upheld.
The next scheduled index review is 5 September 2016.
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