TKMS soars on market debut

The stock market debut of Thyssenkrupp Marine Systems (TKMS) has been a resounding success. After opening at 60 euros, shares of Germany’s largest naval shipbuilder surged by more than 60% during the first hour of trading, reaching prices above 89 euros.

This was not a traditional IPO, but rather a spin-off from the Essen-based industrial group Thyssenkrupp. As part of a broader corporate restructuring, 49% of TKMS shares were floated on the stock exchange. The remaining 51% are held by a newly established holding company under the Thyssenkrupp umbrella.

Thyssenkrupp shareholders received one TKMS share for every 20 Thyssenkrupp shares held. These shares are now freely tradable. The successful launch also had a positive impact on Thyssenkrupp’s own stock. Despite the typical markdown following a spin-off, the parent company benefited from the strong demand for TKMS shares.

Global market leader in conventionally powered submarines

According to the company, TKMS is the global market leader in conventionally powered (non-nuclear) submarines. Its product portfolio also includes frigates and corvettes. The company employs around 8.300 people, including approximately 3.700 at its headquarters in Kiel.

Another key site is Wismar, where – similar to Kiel – submarine production is planned. TKMS aims to create about 1.500 jobs at this location. Internationally, the company operates in Itajaí, Brazil, and maintains additional facilities in Hamburg, Bremen, and Emden.

TKMS is led by CEO Oliver Burkhard, formerly Chief Human Resources Officer at Thyssenkrupp.

LC