Thyssenkrupp: TK Accelis starts on the stock exchange – shares rise by nine percent
Thyssenkrupp has taken another business unit to the stock exchange with the materials trader. But how much independence does TK Accelis really gain from this?
Thyssenkrupp's subsidiary TK Accelis has started trading on the Frankfurt stock exchange with an initial price of 27.80 euros, giving it a market capitalization of around 1.77 billion euros. The company, which employs 15,500 people in 30 countries and generated 11.4 billion euros in revenue last year, is a leading materials trader in Europe and North America.
Thyssenkrupp retains a 51% majority stake in TK Accelis, with the remaining 49% held by existing Thyssenkrupp shareholders. The IPO aims to give TK Accelis more independence and flexibility in its business operations.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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