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Hamburg (dpa) - After the Hamburg consumer goods and cosmetics manufacturer Beiersdorf has been relegated from the top league of the Deutsche Börse, the group wants to continue to adhere to its recently formulated goals and strategies.
"Nothing will change for our customers, business partners and investors," said a company spokeswoman for the German Press Agency in Hamburg on Thursday.
Beiersdorf was promoted to the German stock index Dax at the end of 2008 and is now switching to the MDax of the medium-sized stock market stocks.
The stock exchange operator decided that on Wednesday evening in Frankfurt.
The main criterion for the decision about promotion and relegation is the market value of the company, measured by the free float.
“With a current company value of around 20 billion euros, Beiersdorf would be safely in the middle of the DAX 30 scale.
We are leaving after more than twelve years (...) because the total value of the freely tradable shares - at Beiersdorf this is 39 percent of the total stock portfolio - is currently no longer in the top 30, ”the spokeswoman said .
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In the Dax, Beiersdorf will be replaced by the Munich-based energy technology company Siemens Energy, which was spun off from Siemens last year.
The next Dax reorganization is due in around six months.
Then the leading index will be expanded from 30 to 40 values.
© dpa-infocom, dpa: 210304-99-689196 / 2
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