Ajax promotes to higher stock market index

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Ajax promotes to higher stock market index

Football club Ajax was promoted to a higher stock market index on Monday after the stock market operator Euronext was reconsidered. Ajax thereby promotes to the indicator for smaller funds, the AScX.

Football club Ajax was promoted to a higher stock market index on Monday after the stock market operator Euronext was reconsidered. Ajax thereby promotes to the indicator for smaller funds, the AScX.

Not only does Ajax promote, but Neways Electronics, a maker of electrical components, is making the move to the AScX. The stock market index is after the AEX and the AMX the ‘third division’ for Dutch stock market gauges.

Two places became vacant on the AScX after the departure of Zonnatura manufacturer Wessanen and online investment bank BinckBank from the index. Ajax and Neways Electronics, in line with Euronext calculations, taking into account the market value of a company and the tradability of a share, were in the queue to follow up the two.

Whether the companies will benefit from the promotion is not clear. There are no trackers for the small cap index, so they will not get a cash inflow from passive investors.

Ajax was one of the most successful companies on the stock exchange in the previous football season. A share of Ajax increased by more than 30 percent between September last year and June this year. The football club was successful in the Champions League, allowing the club to add tens of millions. Ajax was eventually eliminated by Tottenham Hotspur in the semi-final during injury time.

 

Source: nunl

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