Continental relisted on DAX from today

ERJ staff report (DS)

Hanover, Germany - The Continental AG share has been listed in the top Deutsche Börse segment again, as of the start of trading today, having returned to the category of the most valuable listed companies in Germany. The international automotive supplier said it is the first company to succeed in being promoted back to the top stock exchange category in Germany for the second time.

In 2003, after a 15-year absence, Continental, a founding member of the DAX, returned to it for the first time when the company's strategic realignment as an international automotive supplier began to bear fruit, the tyre maker said in a 24 Sept news release.

From the beginning of 2009, Continental was listed in the MDAX, partly because the volume of freely tradable shares at that time, amounting to just over 10 percent, was no longer sufficient to fulfill the necessary criteria for membership in the DAX with regard to market capitalisation and trading volume.

Since the end of 2008, Continental's market capitalisation has risen from Euro 4.6 billion to more than Euro 16.8 billion. Over the past twelve months, the trading volume that is relevant to index selection amounted to over Euro 9 billion on average. The criteria for membership in the DAX were thus clearly fulfilled, Continental said.

The international automotive supplier's share price has risen by more than 70 percent since the beginning of the year to Euro 83.61. Equity analysts anticipate an average target price of Euro 90 for the Continental share, and at the high end as much as Euro 126.

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Press release from Continental