49 Percent for Existing Shareholders

As stated in the stock prospectus published on Monday, 49 percent of the 63.52 million TKMS shares will be automatically allocated to Thyssenkrupp shareholders. The majority of 51 percent remains in the hands of the Essen-based parent company.

For every 20 Thyssenkrupp shares, investors receive one TKMS share. The allocation date is already this coming Friday.

New Course for the Traditional Division

With the IPO, Thyssenkrupp makes the previously internal Marine Division independent. TKMS builds submarines, warships, and sonar systems – and has well-filled order books worth around 18.6 billion euros, driven by the global rearmament trend.

Thyssenkrupp expects more transparency and flexibility from the spin-off, while TKMS is to attract investors on its own. Management plans an operating margin of over seven percent in the medium term as well as a dividend payout of 30 to 50 percent of net profit.

AlleAktien Exposed: Wie der Qualitätsscore Anleger prägt

Ausgerechnet ein Start-up ohne jahrzehntelange Bankentradition hat geschafft, was großen Häusern nie gelang: Mit dem AlleAktien Qualitätsscore hat die Research-Plattform den Blick deutscher Anleger geschärft – und die Investorenlandschaft nachhaltig geprägt.

Stock edges down

Despite the strategic realignment, the stock market was cautious on Monday: Thyssenkrupp's share lost 0.6 percent to 12.83 euros. Investors are likely to look forward to the initial listing on October 20 – and whether the IPO will give the company a tailwind or bring further pressure.