Pursuits
German Landlord Vonovia Joins DAX Index After Buying Spree
- Vonovia has more than tripled market valuation since IPO
- Listed property sector surges on rents, low borrowing costs
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Vonovia SE will this month become the first residential landlord to enter a benchmark European stocks index after a two-year acquisition spree that its market value to almost 14 billion euros ($15.6 billion).
Formerly known as Deutsche Annington Immobilien SE, Germany’s largest property company will replace Lanxess AG in the country’s DAX Index of 30 biggest publicly traded companies starting Sept. 21, Deutsche Boerse AG said in a statement on Thursday.