JPMorgan Emerging Markets Dividend Income replaces Dowlais in FTSE 250
JPMorgan Emerging Markets Dividend Income PLC joined the FTSE 250 index on Tuesday, replacing Dowlais Group PLC, whose acquisition by a US peer completed.
Dowlais, a London-based automotive engineering firm that was spun off from Melrose Industries PLC back in 2023, was purchased by Dauch Corp, formerly known as American Axle & Manufacturing Holdings Inc. Back in January last year, Dowlais accepted a £1.16 billion takeover offer from AAM, a producer of driveline products and systems.
The enlarged company will take a secondary listing on the London Stock Exchange, AAM previously had said.
JPMorgan Emerging Markets Dividend Income invests in emerging market companies that offer both growth and a higher-than-average dividend yield. Its shares were up 0.4% to 184.73 pence in London on Tuesday morning for a £485.6 million market capitalisation.
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