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Siemens lists its turbines on the stock market

2020-09-28T18:14:39.179Z

This historic activity is going through difficult times, the market being upset by climatic constraints.The German conglomerate Siemens is turning a page in its history. On Monday, it listed its historic turbine manufacturing business, Siemens Energy, on the Frankfurt Stock Exchange. By separating from this activity, the group is closing a chapter opened in 1866 by its founder, Werner Siemens, when he discovered the principle of the electric dynamo at the origin of power stations. Beyond the symbol



The German conglomerate Siemens is turning a page in its history.

On Monday, it listed its historic turbine manufacturing business, Siemens Energy, on the Frankfurt Stock Exchange.

By separating from this activity, the group is closing a chapter opened in 1866 by its founder, Werner Siemens, when he discovered the principle of the electric dynamo at the origin of power stations.

Beyond the symbol,

"this is the largest IPO of the year in Europe,"

said Konstantin Oldenburger, analyst for CMC Market.

During the IPO, Siemens Energy was valued at 16 billion euros, within the range of previous estimates by analysts (between 15 and 30 billion). The action of the new entity had a rough start in the session, falling 13% in the first hours of trading before picking up and closing a little above 21 euros, down from its introductory price of 22.18 euros.

“A new business must show

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Source: lefigaro

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