Pay TV operator admitted under fast-entry rule
BERLIN — German paybox Premiere is headed for the Dow Jones Stoxx 600 Euro index and Deutsche Boerse’s MDAX stock exchange for midsized companies.
Move is a sign of Premiere’s good shape: The pay TV operator was admitted into the MDAX under the Deutsche Boerse’s fast-entry rule, which allows admission outside of regular testing dates in March and September for firms ranking among the 40 biggest companies in terms of share trading volume and market capitalization, but below the top 30 companies that make up the main DAX index.
“As an MDAX company, there is even greater focus on Premiere’s stock by the capital markets — national as well as international,” Premiere’s CEO Georg Kofler said.
Also effective June 20, Premiere’s stock will be included in the Dow Jones Stoxx 600 index. Premiere already is listed on Morgan Stanley Capital Intl.’s MSCI World Index.
Premiere went public March 9 in what was the largest IPO yet of a German media company, raising E1.2 billion ($1.47 billion).