CIE Automotive, Vidrala or Viscofan could replace Siemens Gamesa if it is finally excluded from the Ibex 35 after its takeover bid
MADRID, 11 Dic. (EUROPA PRESS) -
Logista starts as the favorite company to enter the Ibex 35 at the next meeting of the Technical Advisory Committee, which will take place this Monday, December 12, replacing PharmaMar, according to analysts consulted by Europa Press.
To make its decisions on the composition of the Ibex, the Technical Advisory Committee takes into account the volume of trading in euros in the order market during the six months prior to the meeting (control period) and analyzes aspects such as the number of trades or possible changes in the shareholding, in order to guarantee the quality of said volume.
Likewise, only securities with an average capitalization greater than 0.30% of the average capitalization of the selective during the control period can be part of the Ibex 35. Technical standards establish different coefficients to be applied to the average capitalization of each security to penalize those with less free float.
For this meeting, the majority of analysts consulted anticipate at least one change and agree that Logista will be the replacement for PharmaMar. Both Renta 4 and Bankinter and IG point out that Logista meets both the capitalization and trading volume requirements in the calculation period, while PharmaMar --which entered the Ibex 35 in September 2020, replacing Ence-- does not meets the required capitalization. In addition, Logista exceeds the traded volume of the pharmaceutical company.
On the other hand, the Technical Advisory Committee announced last week that it will exclude Siemens Gamesa from the Ibex 35 due to the voluntary takeover bid (OPA) of shares made by Siemens Energy, its main shareholder. The index adjustment will be made at the close of the session on Tuesday, December 13, the scheduled end date of the OPA acceptance period.
Once the result of the offer has been officially published, the committee will meet on an extraordinary basis in the month of December to decide whether to re-include Siemens Gamesa Renewable Energy in the index, with the new applicable coefficient, if any. or replacement by another value.
In this sense, Renta 4 points out that the possible gap left by the wind turbine company could be filled by CIE Automotive, Vidrala or Viscofan. "Almirall and Unicaja, even though they have a higher traded volume, do not meet the minimum weighting requirement," add the entity's analysts.
For his part, the XTB analyst, Joaquín Robles, has expressed doubts that there will be changes in the Ibex 35 at the meeting this Monday, but has indicated the possibility that Logista will enter the index as a substitute for Siemens Gamesa .
Robles has agreed with the rest of the analysts in pointing out that the distribution company is the one that is best positioned to 'jump' to the Ibex, replacing PharmaMar, but has considered that "it is not certain" that the committee will announce a change this Monday .
However, Robles has indicated that Logista could have another opportunity to access the index if Siemens Gamesa is definitively excluded after finalizing the takeover bid.