Siemens Energy AG could rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to JPMorgan Chase & Co. analyst Pankaj Gupta.
(Bloomberg) — Siemens Energy AG could rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to JPMorgan Chase & Co. analyst Pankaj Gupta.
Index provider Qontigo is expected to announce changes to the gauge after 10 p.m. CET on Monday. The DAX includes the 40 largest German listed companies, based on free-float-adjusted market value, and that meet criteria for profitability and corporate governance.
Siemens Energy has a market value of 10 billion euros ($10 billion), while HelloFresh has a market capitalization of 4 billion euros.
“We expect Siemens Energy to replace HelloFresh in the index,” Gupta said in emailed comments.
Siemens Energy, a spinoff from Siemens AG, was removed from the DAX last March after only a year on the index. Its shares have lost nearly 30% since news of its exclusion from the benchmark in March. HelloFresh shares, meanwhile, have tumbled 65% so far this year.
(Corrects to show that Delivery Hero is not eligible for inclusion as it is not profitable)
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