US EditionThyssenkrupp spins off warship unit to tap defence boom
- On Monday, TKMS debuted on Frankfurt Stock Exchange at around 60 euros per share, valuing the company at around 3.8 billion euros after spinning out from Thyssenkrupp.
- TKMS is selling shares to raise capital, with Gareth McCartney stating `We now have a catalyst over the last few months with both defense and infrastructure spending very much at the core of what international investors are looking for when they look towards investing in Europe` on Monday.
- TKMS has expanded physical capacity with two shipyards and doubled production in recent years, building submarines, surface vessels, sonar equipment and autonomous devices, Burkhard told CNBC's "Europe Early Edition" on Monday.
- The listing pushed defence indexes and Thyssenkrupp's share price higher as the Stoxx Europe Aerospace and Defense index rose about 2.7% and Thyssenkrupp shares gained 6.4%, while Thyssenkrupp retains a 51% stake.
- TKMS's 18.6 billion-euro backlog points to extended busy years ahead, with submarines taking 5 to 15 years to build; Germany has six submarines plus six ordered, fewer than the United States and Russia .
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kreiszeitung.de
mannheim24.deTKMS starts brilliantly on the stock exchange. The submarine farmer wins over 60 percent on the first day. Germany's armaments industry continues to experience a boom.
At the TKMS Stock Exchange debut, the share comes out of trading with a substantial plus. What is behind the strong start of the Thyssenkrupp split and what plans the company is pursuing.
At the TKMS Stock Exchange debut, the share comes out of trading with a substantial plus. What is behind the strong start of the Thyssenkrupp split and what plans the company is pursuing.
After the divestiture of Thyssenkrupp, TKMS is making a strong exchange debut in Frankfurt. The share is rising to just under 100 euros at times and the valuation is over 6 billion euros. Tim Oechsner, capital market expert, analyses the IPO in conversation with Dietmar Deffner.
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