Siemens Energy to Be Listed on Germany's DAX for One Day at Spin Off
September 23 2020 - 1:50AM
Dow Jones News
By Giulia Petroni
Siemens Energy AG will be included in Germany's benchmark DAX
stock-market index for one day on Sept. 28, when it is set to be
spun off from parent company Siemens AG, according to global index
provider STOXX Ltd.
Siemens Energy will enter the index with a price of zero,
according to the index provider, and the number of shares and free
float will be determined by the value of Siemens shares and the
ratio for the spin-off.
"This adjustment ensures the trackability of the index for
investors," STOXX said, adding the DAX will be calculated on a
basis of 31 companies for one day.
On Sept. 28 at closing, Siemens Energy will be taken out of the
DAX.
STOXX added that the next index review is scheduled for Dec.
3.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 23, 2020 01:35 ET (05:35 GMT)
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