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(Alliance News) - WAG Payment Solutions PLC, known as Eurowag, on Tuesday joined the FTSE 250, replacing Frasers PLC which ascended to the FTSE 100.
London-based Eurowag processes toll and fuel payments for trucks around Europe.
"Today's announcement is another important milestone on our journey. Having listed on the London Stock Exchange in October 2021, the inclusion in the FTSE 250 Index further highlights Eurowag's credentials as a public company," said founder & Chief Executive Officer Martin Vohanka.
The move follows a reshuffle in the London Stock Exchange indices. Maidenhead-based retailer Frasers Group PLC on Tuesday ascended to the FTSE 100 from the FTSE 250, replacing aerospace components manufacturer Meggitt PLC. Meggitt was bought by Ohio-based Parker-Hannifin Corp for GBP6.3 billion.
Frasers's return to the FTSE 100 and Eurowag joining the FTSE 250 were originally announced on Thursday. Retailer Frasers was booted out of the blue-chip index back in March 2016.
Eurowag shares were flat at 98.00 pence each in London on Tuesday morning, while Frasers fell by 3.2% to 829.00p each.
By Tom Budszus; tombudszus@alliancenews.com
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