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"The inclusion in the Bel20 comes as a bit of a surprise," said Alexander Saverys, CEO of Euronav. Like cookie maker Lotus, the tanker company will be included in the Brussels stock market index on Monday, March 18.

In the news: Stock exchange operator Euronext announced Wednesday evening the rearrangements of its stock market indexes, based on market values and trading volumes:

  • Euronav and Lotus Bakeries enter the Bel20.
  • Proximus and Aperam are relegated to the Bel Mid index.
  • There is no more room in the latter index for Agfa-Gevaert, which is relegated to the Bel Small index.

Noteworthy: After Bpost in 2019, so now that other listed public company, Proximus, also disappears from the Brussels star index. Under CEO Guillaume Boutin, Proximus shares lost 66 percent of their value over the past five years. There is thus no longer a telecom company in the Bel20, since earlier Telenet went off the stock market.

The reactions:

  • "This year marks the 20th anniversary of Euronav's listing on Euronext Brussels," said CEO Alexander Saverys. "The inclusion in the Bel 20 comes a bit as a surprise, but we are enormously proud and happy that our company is among the reference shares of the Brussels Stock Exchange. We have always said that we want to stay on the stock exchange and this news reinforces our ambition. After the acquisition of CMB.TECH in February, we want to be the reference in sustainable shipping with a clear focus on growing our diverse fleet." The Antwerp shipowner-Saverys family seized control of Euronav late last year, followed by the integration of CMB.TECH.
  • "We are very proud to be in the Bel20. The tension was palpable in all parts of the organization. When you have just missed out on it several times, it becomes an ambition in the long run. We are quite competitive by nature," Lotus CEO Jan Boone told De Tijd.

© The Content Exchange, source News