Hapag-Lloyd joins SDAX stock index

The German ocean carrier will become a member of the Deutsche Börse index, a Blue Chip Equity Index composed of 50 small and medium-sized companies.    German ocean carrier Hapag-Lloyd will join the SDAX index of the Deutsche Börse, which is traded on the Frankfurt Stock Exchange, according to a statement from the company.
   Hapag-Lloyd said the composition of the SDAX will be adjusted on March 18 and index trading will include the company’s stock effective March 21 at market open.
   The SDAX index is a Blue Chip Equity Index composed of 50 small and medium-sized companies in Germany that rank directly below 30 DAX and the 50 MDAX index shares in terms of order book volume and market capitalization. As such, the companies are the 81st through the 130th largest publicly traded companies in the country.
   “The inclusion into the SDAX marks an important step for the Hapag-Lloyd share which only started trading on November 6th 2015,” Hapag-Lloyd CEO Rolf Habben Jansen said of the announcement. “The increased awareness resulting from listing within an index is expected to increase liquidity for shareholders, broaden analyst coverage – allowing for a more frequent valuation – and to increase publicity.”