Thyssenkrupp warship spinoff TKMS taps into Europe’s defense boom with Frankfurt IPO
Sport
TKMS , the German warship manufacturer which has spun out from parent group Thyssenkrupp , plans to capitalize on the expected surge in Europe's defense spend with "prudent, margin-oriented growth" after debuting on Frankfurt's stock exchange Monday. The 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
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