Top German VAR Cancom has listed on the MDAX stock exchange in Frankfurt, Germany for the first time, making it one of the 90 most valuable listed companies in the country
CEO Thomas Volk said that the move was an important "next step" for the hybrid infrastructure and managed services VAR.
"We are very pleased to be admitted to the MDAX," he said.
"This is primarily due to the loyalty and trust of our customers and the performance of nearly 4,000 employees.
"We thank everyone contributing to our success, especially our employees, and we will continue to grow through our focus on customer experience and satisfaction."
Cancom shares climbed to €52.23 after the index reorganisation by Deutsche Börse, the Frankfurt stock company.
In Germany, the DAX exchange tracks the 30 largest companies in Germany, in terms of market capitalisation and trading volume.
The MDAX exchange is the next 60 companies below the DAX.
Cancom was already listed on the TecDAX stock index, which tracks the 30 largest German companies from the technology sector, specifically.
The Munich-based firm's share price has grown by 73 per cent so far this year, reaching a market cap of €1.8bn.
For the first half of 2019, Cancom's revenues shot up by 30 per cent to €791.8m while adjusted EBITDA grew 21.4 per cent to €59.1m
Bechtle, Cancom's main rival in Germany, was elevated to the MDAX exchange in September last year. It currently has a market cap of €3.61bn.
Founded in 1992, the Munich-headquartered firm went public in 1999.
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