Covestro to Become a DAX Member
Fast Entry to the Most Important German Equity Index
Deutsche Boerse decided that Covestro AG, Leverkusen, Germany, 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."
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. With 2017 sales of EUR 14.1 billion, Covestro is among the world’s largest polymer companies. It has 30 production sites worldwide and employs approximately 16,200 people (calculated as full-time equivalents) at the end of 2017.
Covestro Deutschland AG
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.