Logista joins the selective Ibex 35 of the Spanish stock exchange

Logista joins the selective Ibex 35 of the Spanish stock exchange

The Ibex Technical Advisory Committee has agreed to add Logista to the Ibex 35 index to replace PharmaMar, a change that will take effect on 19 December, according to an official statement.

The committee took this decision at its meeting today, Monday, following the technical rules for the composition and calculation of the Ibex indices and share strategy, which take into account the trading volume in euros in the order market during the six months prior to the meeting (control period) and aspects such as the number of trades contracted or possible changes in the shareholding, in order to ensure the quality of this volume.

Likewise, only securities with an average capitalisation of more than 0.30% of the average capitalisation of the selective index during the control period may be included in the Ibex 35. The technical rules establish different coefficients to be applied to the average capitalisation of each security in order to penalise those with lower free float.

Logista, which will enter the Ibex 35 with a coefficient of 80%, was the analysts' favourite to replace PharmaMar, as the distributor met both the capitalisation and trading volume requirements during the period, while the pharmaceutical company did not have the necessary capitalisation and was behind Logista in terms of trading volume.

Logista's last big deal was last September, when it announced the acquisition of 100% of the refrigerated and frozen food transport and logistics group Grupo Carbó Collbatallé. The agreement reached includes the acquisition of 100% of the capital of the company Carbó Collbatallé for 51 million euros.

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