FRANKFURT: Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly review following the collapse of the payments company amid allegations of accounting fraud.
The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favoured immediate removal of bankrupt companies from the index, rather than waiting for the review.
Delivery Hero AG is seen as the most likely candidate to take the spot among Germanys most valuable companies, according to the latest index ranking list.
According to the new rules, insolvent companies shall be removed from the DAX Selection Indices with two trading days notice, Deutsche Boerse said …
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