Auto1 moves up to the MDAX

It has only been four months since Auto1 went public and the company will soon be promoted to the MDAX: As of June 21, Auto1 will be represented there, replacing Siltronic.

Auto1 went public in February, and the start-up will be included in the MDAX on June 21. Analysts have seen the potential for some time, but a company has to be listed on the stock exchange for 30 days before it can switch. The chip supplier Siltronic makes way for Auto1, which is relegated to the SDAX.

The start-up raised 1.8 billion euros with its IPO and the share price rose by 50 percent in the meantime. However, the share price fell at the beginning of the week as 9.7 million shares were placed overnight. Seven shareholders had turned their share packages into cash and sold to institutional shareholders. On Wednesday, the share price fell by eight percent, on Thursday at times by a further five percent.

With the change in the MDAX, index-oriented funds have to reallocate, making Auto1 even more attractive for investors. The company is still in the red, but the adjusted operating loss decreased from 22 to 14 million euros in the first quarter of 2021.

The stock exchange decides on its composition four times a year. In addition to Auto1's promotion, there are three newcomers to the SDAX, while the DAX and TecDAX remain unchanged.