Electric car powered by Vitesco
Vitesco relies on electric drives – but so far does around 90 percent of its business with combustion engines.
(Photo: Vitesco)
Frankfurt Before the “Dax 40” comes the “Dax 31”. On Thursday, the automotive supplier Continental spun off its drive division and listed it on the stock exchange. Then Vitesco Technologies will be listed as an additional value in the leading German index – but only for one day.
However, Vitesco has no prospects of a regular place in the Dax, which will be expanded by ten to 40 companies on September 20. But why is Continental splitting off Vitesco at all? Who will get the shares? And what does that mean for Continental shareholders? The Handelsblatt answers the important questions about the spin-off.
Who will get the Vitesco shares?
All Continental shareholders. As of September 16, the custodian banks book one Vitesco share into their portfolio for every five Continental shares. Shareholders whose number of Continental stocks cannot be divided by five will be credited with partial rights to Vitesco.
What does Vitesco do?
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