Deutsche Börse has announced an unscheduled change in the composition of DAX. The freefloat of the ordinary share of Volkswagen AG has dropped below ten percent and does therefore no longer fulfill the requirements of the index.
The preferred share of Volkswagen AG (Vz) is to be included in DAX and will replace the ordinary share of Volkswagen AG (St). The Guide to Equity Indices of Deutsche Börse states that if a share of a company leaves the index, further classes of shares of that same company may rank among the candidates to be included in the index provided they qualify in agreement with the index rules.
This change will be effective 23 December 2009. The next equity index review is scheduled for 3 March 2009.
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