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04.06.2015 18:30
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BB Biotech: Change in TecDax
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BB BIOTECH AG / BB Biotech: Change in TecDax . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
BB Biotech is being replaced in the TecDax Index due to a decline in its Xetra trading volumes as a percentage of total/worldwide trading volumes. Trading volumes on SIX Swiss Exchange have increased in recent months and this has led to a decline in the relative share of trading volumes conducted on Xetra.
Since its admission to the TecDax in March 2003 BB Biotech has - apart from a brief interlude - been a constant member of Germany's technology index. After the latest index review the Deutsche Börse announced yesterday that BB Biotech would be replaced and no longer included in the index as of June 22, 2015.
Besides market capitalization and trading volumes, companies like BB Biotech whose shares are listed on multiple exchanges must meet an additional criterion to qualify for inclusion in the TecDax: At least 33% of their global trading volumes must be conducted on Xetra or the Frankfurt stock exchange.
While BB Biotech claims a top ranking on the TecDax in terms of market capitalization and a mid-field position as measured by trading volume, the relative share of its Xetra trading volumes has fallen below the minimum threshold.
Trading volume is subject to regional fluctuations that can be traced to general investor demand. An increase in trading volumes on SIX Swiss Exchange in recent months has led to a decline in Xetra's relative share of total trading volumes. As historical trading data shows, trading volumes can shift back in favor of the German trading platform, which would be in the interests of BB Biotech.
For further information:
Investor Relations
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00
Dr. Silvia Schanz, ssc@bellevue.ch
Maria-Grazia Iten-Alderuccio, mga@bellevue.ch
Claude Mikkelsen, cmi@bellevue.ch
Media Relations
b-public AG, Pfingstweidstrasse 6, 8005 Zurich, Switzerland, Tel. +41 79 423 22 28
Thomas Egger, teg@b-public.ch
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00
Tanja Chicherio, tch@bellevue.ch
Company profile
BB Biotech invests in companies in the fast growing market of biotechnology and is one of the world's largest investors in this sector with more than CHF 3.7 billion in assets under management. BB Biotech is listed in Switzerland, Germany and Italy. Its investments are focused on listed companies that are developing and commercializing novel medical treatments and cures. BB Biotech's investment selection process is guided by the fundamental research and analysis of physicians and molecular biologists. Its Board of Directors has many years of experience in industry and science.
Disclaimer
This release contains forward-looking statements and expectations as well as assessments, beliefs and assumptions. Such statements are based on the current expectations of BB Biotech, its directors and officers, and are, therefore, subject to risks and uncertainties that may change over time. As actual developments may significantly differ, BB Biotech and its directors and officers accept no responsibility in that regard. All forward-looking statements included in this release are made only as of the date of this release and BB Biotech and its directors and officers assume no obligation to update any forward-looking statements as a result of new information, future events or other factors.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BB BIOTECH AG via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BB BIOTECH AG via Globenewswire
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BB BIOTECH AG
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