The Pro Medicus Limited (ASX: PME) share price is surging today after S&P Dow Jones Indices announced to the ASX after market close yesterday that the company will be joining the S&P/ASX 200 (INDEXASX: XJO) index, effective from 7 August 2019. Pro Medicus replaces DuluxGroup Limited (ASX: DLX) after Dulux finalises its takeover by Japan's Nippon Paint Holdings Co.
Here's the ASX announcement in full:
S&P Dow Jones Indices announced today that it will remove DuluxGroup Limited (ASX: DLX) from the S&P/ASX 200, subject to final court approval of the scheme of arrangement whereby the company will be acquired by Nippon Paint Holdings Co Ltd. S&P Dow Jones will remove Dulux Group Limited from the S&P/ASX 200 effective at the open of trading on August 7, 2019. Dulux Group Limited will be replaced by Pro Medicus Limited (XASX: PME) in the S&P/ASX 200 effective at the open on Aug 7, 2019.
PME shares ended trading yesterday at $30.80 but opened this morning at $31.11 and have since risen higher still, hovering at the $$33.26 mark at the time of writing – a gain of more than 8%. PME shares have now banked a 191% gain since the start of the year and a 3,621% gain over five years.
Pro Medicus is a provider of a wide range of radiology software and IT services to the healthcare sector. The company's clients include hospitals, radiological imaging centres, and healthcare groups around the world.
