Thyssenkrupp warship spinoff TKMS taps into Europe’s defense boom with Frankfurt IPO [MSNBC.com]
THYSSENKRUPP AG S/ADR (TKAMY)
NASDAQ:AMEX Investor Relations:
thyssenkrupp.com/en/investors
Company Research
Source: MSNBC.com
TKMSThyssenkruppThe initial public offering saw TKMS launch at around 60 euros ($70) per share — giving it a market value of around 3.8 billion euros ($4.4 billion) — drawing strong demand from investors. Industrial engineering giant Thyssenkrupp will continue to hold a 51% stake in the company following the offering.The company, also known as Thyssenkrupp Marine Services, builds both submarines and surface vessels, as well as electronics and software technology, which TKMS CEO Oliver Burkhard called the "jewel in the chest box" of the company.This includes sonar equipment and certain autonomous devices, which are critical in the so-called 'mighty domain' operations "which is the next big thing in military warfare," Burkhard told CNBC's "Europe Early Edition" on Monday.The IPO will enable the company to raise capital and expand capacity amid an anticipated ramp-up in demand for stronger defense capability, particularly in the naval sector, in Europe in the coming decades.The U.S. has
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News
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- ThyssenKrupp (OTCMKTS:TKAMY) was upgraded by analysts at Zacks Research to a "hold" rating.MarketBeat
- Where is the money to replace Canada's aging submarines? It wasn't in the 2025 federal budget [BNN Bloomberg (Canada)]BNN Bloomberg
- Thyssenkrupp renegotiates 10 billion euros in unit TKMS' guarantees before spin-off [Yahoo! Finance Canada]Yahoo! Finance Canada