Covestro will be among the 80 most important listed companies in Germany. Roughly two months after its flotation, the materials manufacturer will be included in the MDAX stock market index as of December 21. Deutsche Börse AG made the announcement Thursday evening. The MDAX is composed of 50 companies in the prime standard segment ranking just below the 30 shares in the DAX, the most important German stock index.
“We are delighted to be included in the MDAX and are proud that this step has occurred so quickly,” said Covestro CFO Frank H. Lutz. “It reflects the gratifying share performance and great investor interest since our floatation on October 6 of this year. Membership in the MDAX will further enhance the perception of Covestro on the global financial markets.”
Meanwhile, the Covestro share is not only listed on the Frankfurt Stock Exchange, but on every other German stock exchange as well. The security is also traded on the regional stock markets in Berlin, Dusseldorf, Hamburg, Hannover, Stuttgart and Munich.
With 2014 sales of EUR 11.8 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employs approximately 15,700 people (calculated as full-time equivalents) at the end of September 2015.
This press release is available for download from the Covestro press server at www.covestro.com.
Find more information at www.covestro.com.
This release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available on the Covestro website at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.