CLOPPENBURG, Germany (BRAIN)—Derby Cycle will be included in Germany’s SDAX index starting Sept. 19.
The SDAX is made up of 50 small and medium sized companies in Germany and represent the 81st-130th largest publicly traded companies in that country.
Mathias Seidler, Derby’s CEO, said the inclusion in the SDAX marks a further milestone in Derby’s capital market history. It listed on the Frankurt Stock Exchange earlier this year.
“Following our IPO in February 2011, we hope that the SDAX listing will enhance our shares’ visibility, particularly on international capital markets,” Seidler said.
The announcement comes a week after Accell Group said it had increased its share in Derby Cycle to 22 percent, a move viewed by Derby management as an attempt to take over the company.
Derby’s management issued a statement at that time saying it is not part of its strategy to merge with a large competitor.
“From today’s perspective, we have no interest of any kind in any cooperation with the Accell Group, however it might be structured, and of whatever type it might be. We floated on the stock market at the start of this year in order to continue independently with our strategy at a high growth rate. The results for the first nine months of 2010/11 that have recently been published reflect the success of this strategy. We are outstandingly positioned. For this reason, we will continue to pursue our successful strategy of independent growth also following the Accell Group's recent announcement,” the statement said.
