Index Investing: Takeaway.com Joins AEX Index

INDEX INVESTING – Recently, the AEX index received another big-name stock—Takeaway.

The takeaway is one of the leading food delivery services in Europe. It has now gotten a spot in AEX-Index on Euronext.

Put simply; the company jumped from the MidKap to the AEX index of the Amsterdam stock exchange.

The AEX index tracks 25 of the biggest and most actively traded companies listed on Euronext Amsterdam.

Market participants and those involved in index investing are also using the index to follow the health of the Dutch stock market.

Earlier this year, Takeaway managed to fetch 680 million euros through an accelerated bookbuild and began offering new shares and convertible bonds.

The company also announced the successful placement of 8.35 million new ordinary shares. This represents around 19% of the company’s outstanding share capital.

In another bookbuild offering, the online food delivery platform fetched around 430 million euros. The issue price was 1.50 euros per new share, plus the simultaneous offering of convertible bonds.

Takeaway.com CEO said that the inclusion of the company to the main index on Euronext Amsterdam was a huge milestone for the company.

“It is clear for us though that we are still at the beginning of the development of our sector, and we intend to play an increasingly important role in it,” said CEO Jitse Groen.

Index Investing: AEX Index Rises 0.22%

Meanwhile, other stocks in the Netherlands showed a strong performance after the close last Wednesday.

Financials, Consumer Services, and Healthcare sectors took charge and dragged the AEX index up 0.22% after the close in Amsterdam.

On the index, Aegon stocks gained 2.49%, adding 0.106 points and trading at 4.363 at the close. ABN AMRO Group gained 1.87%, adding 0.35 points. It finished trading at 19.34.

ING Groep NV perked up 1.67%, gaining 0.168 points to trade at 10.238.

On the flip side, the worst performance was by Adyen NV, which lost 2.03%. It shed 14.00 points and traded at 675.00 at the close.

ASR Nederland NV shed 1.31%, losing 0.46 points to finish trading at 34.64, while Koninklijke Ahold Delhaize NV was 1.17% lower, dropping 0.245 points to trade at 20.720.

As for options contracts, the AEX Volatility gauge was 1.52% higher, clocking in a trading price of 12.27.

Amsterdam Economy Heats Up

The economy of Amsterdam would grow by 2.8% this year and 2.3% next, according to the region’s economic exploration.

Although the figure is lower than the 3.4% growth the region saw last year, the Amsterdam region still ranks among the three fastest growing areas in Europe.

It tags along on the list with Prague and Warsaw.

Region economists attribute the lower growth to the weak international economic situation and increasing shortages on the labor market.

They expect a total of 57 thousand new jobs to come in the Amsterdam region this year and next. These jobs will mainly be in the IT sector, business services, healthcare, tourism, and hospitality.

The region’s economy has been growing faster than the national average and the average of other prominent urban areas.