Almost three months after its IPO in Frankfurt, Porsche AG is included in the leading index Dax.

The stock exchange will publish the index decision on Monday; the changes will take effect on December 19.

It is based on binding criteria, and according to calculations by the investment bank Stifel Europe, Porsche will be ranked 25th on the relevant Deutsche Börse rankings.

At least rank 33 is required to move up the index according to the "Fast Entry" rule.

Daniel Mohr

Editor in Business.

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The Dax title with the lowest market value must then descend.

According to Stifel's calculations, this should be the sporting goods manufacturer Puma, which has fallen to 46th place.

The second weakest value is likely to be Fresenius Medical Care in 44th place.

Puma will return to the M-Dax.

The biofuel manufacturer Verbio from Zörbig is likely to climb there after its price rally in recent years.

The papers from Varta and, according to Stifel calculations, also Deutsche Wohnen will have to leave the M-Dax, while TAG Immobilien could just barely manage to remain in the M-Dax.

The Porsche shares were placed at EUR 82.50 at the end of September, in the middle of a difficult market environment when the Dax had just fallen below 12,000 points.

In the meantime, the price has risen to more than 106 euros.

The market value, including the unlisted ordinary shares, has risen to 98 billion euros.

Only Linde, Siemens and SAP have a higher market value in Germany.

Lots of Porsche and VW in the Dax

In the Dax, Porsche AG will meet Porsche Automobil Holding, whose ordinary shares with voting rights belong entirely to the Porsche and Piech families.

The majority stake in VW ordinary shares is held through this vehicle, and since the IPO, a direct 17.5 percent stake in Porsche AG.

In January, the stake is to be increased to 25 percent plus one share.

The VW preferred shares are also listed in the Dax.

In the ranking of the most valuable companies on the German stock exchange, Porsche is likely to move up one place next year: Linde plans to withdraw from the German stock exchange in March and then only wants to be listed in New York.

The Dax heavyweight is thus lost with an index share capped at 10 percent.

Not only the remaining 39 Dax members with a higher weighting benefit from the departure.

A climber can also look forward to the vacant place.

Currently it would be the armaments company Rheinmetall.

If Commerzbank were to present its 2022 annual report with a reported profit before Linde withdrew, it would also meet all the DAX criteria and would at least be just ahead of Rheinmetall in the rankings.

The most recent ranking will then be relevant.