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flag Thyssenkrupp split its shipbuilding unit into TKMS, now a standalone company valued at over €5.8 billion, with shares rising on debut.

flag Thyssenkrupp has spun off its warship and submarine unit, now called TKMS, into a standalone company listed on the Frankfurt stock exchange, with shares surging from about 60 euros to over 80 euros on debut, valuing the firm at more than 5.8 billion euros. flag The move, part of a broader European defence buildup driven by the war in Ukraine and increased security concerns, allows TKMS to pursue growth independently amid rising military spending, including Germany’s projected 162 billion euro defence budget by 2029. flag The parent company retains a 51% stake, and existing Thyssenkrupp shareholders received one TKMS share for every 20 held. flag The separation aims to boost TKMS’s financial flexibility and strategic agility, positioning it to expand its global order backlog and compete for major contracts in Europe, India, and Canada.

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