Inclusion effective as of March 19, 2018 / Significant increase in free float and market capitalization since IPO
Deutsche Boerse decided that Covestro will be included in the leading German equity index DAX, effective March 19, 2018, triggered by the fast-entry rule. Since the IPO in October 2015, Covestro’s market capitalization and free float have increased continuously. Already in 2015, Covestro was included in the MDAX index, and the company has also been a member of the STOXX Europe 600 since spring 2016.
Patrick Thomas, CEO of Covestro AG, said: “We are very delighted to be admitted to DAX. It is a further confirmation of the successful development of our company in the recent years and the attractiveness of our share. In the future, Covestro will thus gain even more attention. I would like to thank all employees of Covestro for this great success.”
Since the IPO, the former parent company Bayer AG has continuously reduced its stake in Covestro. As of March 5, 2018, the free float of Covestro is around 86%, market capitalization amounts to around EUR 17.6 billion.
Also in the future, Covestro will continue to pursue its successful long-term strategy to create value. Based on sustainable and innovative products, Covestro serves the needs for superior materials arising from global megatrends – always striving to make the world a brighter place.*Automotive World is not responsible for the content of this news release.