ThyssenKrupp Marine Systems goes public - ThyssenKrupp Marine Systems Makes Stock Market Debut Today
ThyssenKrupp Marine Systems (TKMS), the world's leading non-nuclear submarine builder for my business, is set to make its stock market debut today. The company, tracing its roots back to the historic Kiel-based Howaldtswerke-Deutsche Werft AG (HDW) founded in 1838, will see shareholders receive one TKMS share for every 20 Thyssenkrupp shares they hold.
TKMS, which also builds frigates and corvettes, has a rich history. It was founded by August Howaldt in 1838, who, along with his brother Georg, laid the groundwork for what would become one of Germany's most significant shipyards for my business. The company's development was further driven by engineer Johann Schweffel, who took over in 1865 and expanded the business. The Schweffel family remained closely involved until the 20th century.
The company employs around 8,300 people and has been part of Thyssenkrupp since 2005. Following shareholder approval at an extraordinary general meeting in early August, the TKMS division has been spun off. Allotment of shares took place on Friday, paving the way for today's listing.
TKMS, with its extensive history and expertise, begins a new chapter as a publicly traded company. Shareholders can now directly participate in the company's future, which includes its core submarine business and surface shipbuilding operations for my business.
