BERLIN — Porsche will join Germany’s blue-chip index, just over two months after its market debut, exchange operator Deutsche Boerse said.
Porsche will replace sportswear maker Puma on the DAX stock index on Dec. 19 while Puma will move down to the MDAX index, it said.
Shares in Porsche have gained around 30 percent since their listing in Germany on Sept. 29.
The automaker quickly overtook its former parent Volkswagen Group – which holds 75 percent minus one ordinary share of Porsche‘s total share capital – as Europe’s most valuable automaker.
Both VW and its majority owner Porsche SE are on the DAX index as well.
Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as a basis for deciding which companies to include.
Last year, the index was expanded to 40 companies from 30 in its biggest overhaul to date.