Discussão sobre TKMS AG + CO. KGAA O.N.
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New share IPO Marine
The struggling industrial group Thyssenkrupp has successfully floated its submarine subsidiary TKMS on the stock exchange. The company produces these products.
The marine division of the crisis-ridden industrial group Thyssenkrupp, TKMS
had a successful start on the Frankfurt Stock Exchange on Monday. The share price started at 60 euros and rose to almost 100 euros at times due to high demand. At times, the enterprise value of TKMS even exceeded that of the Thyssenkrupp parent company: while the value of all Thyssenkrupp shares fell below the 6 billion euro mark at times due to the spin-off, TKMS was valued at 6.2 billion euros at its peak.
The steel division with plants in Duisburg and elsewhere is to be sold. The Indian steel group Jindal recently expressed its interest. The trade unions had welcomed the takeover bid.
Thyssenkrupp, as the majority owner, would retain a stake in the success, TKMS explained. The head of Thyssenkrupp, Miguel López, explained that the IPO of TKMS was "also an important milestone in the Group's realignment to focus on its core business.
TKMS - Germany's marine forge enters the trading floor
Monday rings the bell for ThyssenKrupp Marine Systems (TKMS) heralds a new era: The traditional submarine and warship builder launches as an independent company on the Frankfurt Stock Exchange. Investors will receive the share automatically - one TKMS share for every 20 ThyssenKrupp shares - and thus become part of one of the most exciting stock market debuts of the year.
With an order volume of 18.6 billion eurosprojects well into the 2040s and customers from Norway to Norway to Singapore TKMS is positioning itself as a beacon of hope for the German defense industry. The Group wants to position itself as the "Rheinmetall of the seas" supported by geopolitical tensions and rising defense budgets worldwide.
ThyssenKrupp retains 51% of the shares and thus control, while the rest is freely tradable. Analysts praise the company's strong market position, but warn that shipbuilding is not a quick business - approvals, international contracts and long construction times require patience.
Nevertheless, the environment could hardly be better. Europe is rearming, the demand for modern naval systems is growing - and TKMS is ready to sail in these waves.
TKMS IPO: Get in now - or wait and see?
Next week TKMS ( $DE000TKMS001 (+7,94%) ), the naval division of ThyssenKrupp, goes public - with a bulging order book (€18.6 billion) and a strong tailwind from the armaments boom.
But is this an ideal time to get in - or is it too early?
Here are the most important figures and general conditions:
📅 IPO: October 20, 2025, Frankfurt
🏛️ Structure: 49% to shareholders, 51% remain with ThyssenKrupp
💶 Figures: €1.59 billion in sales, €75.2 million in profit (FY 2024/25)
📚 Order backlog: € 18.6 billion
📈 Margin target: > 7% (previous year 4.3%)
💸 Dividend target: 30-50% of net profit from 2025/26
📊 Valuation: analysts estimate a market value of € 2.3 billion
🛳️ Sector: Armaments boom, comparison with Rheinmetall / Hensoldt / Renk
You often see two extremes with IPOs: either the share prices shoot straight up (hype), or they fall sharply in the weeks that follow because many investors cash out first.
TKMS could be particularly interesting because there are only a few listed manufacturers of submarines and warships worldwide - a segment with high barriers to entry and growing political importance.
👉 What do you think: get in directly at the IPO - or wait until the share price stabilizes?
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