The Ibex 35 Technical Advisory Committee announced that Unicaja Bank will join Siemens Gamesa Renewable Energy inside the Ibex 35, effective on 27 December, following the outcome of the voluntary takeover bid led by Siemens Energy for SGRE. The committee shared this decision in a formal press release that clarified how the new composition will be staged within the index.
Unicaja will become the sixth bank included in the Ibex 35 Banks lineup, joining Santander, BBVA, CaixaBank, Sabadell and Bankinter. The adjustment will set the index coefficient for Unicaja at 80%. This change places Unicaja among the core banking stocks that populate the Ibex 35 Banks category.
With Unicaja’s entry into the Ibex 35, the index will bid farewell to the current position held by Ibex Medium Cap, where Talgo will take its place. Talgo will carry an enforceable coefficient of 100% and, as a consequence, Talgo will exit the Ibex Medium Cap and move into a different segment. In turn, the Ibex Small Cap will see a reshuffle that will be completed by Nextil entering with a 40% coefficient.
These adjustments are set to become effective on 27 December. The changes in the Ibex 35, Ibex 35 Banks, Ibex Medium Cap and Ibex Small Cap will be finalized at the close of the trading session on 23 December.
To implement these changes, the Technical Advisory Committee noted a defined control period running from 15 June to 15 December of the current year, which is used to determine the composition in line with the Standards for the Formation and Calculation of the index. This framework also governs the inclusion of securities within the broader index family, ensuring consistency with established rules.
These guidelines consider the scale of euro-denominated trading in the six months leading up to the meeting, the number of executed transactions, and any changes in shareholding. They are designed to safeguard the quality and representativeness of the index as a benchmark for the market.
Additionally, only securities with an average market capitalization exceeding a threshold of 0.30% of the index’s average capitalization during the control period can form part of the Ibex 35. The technical standards assign different coefficients to each security based on its average capitalization, thereby discouraging stocks with limited liquidity from dominating the index and preserving overall tradability.