Siemens Energy’s listing this morning on the prime standard segment of the Frankfurt Stock Exchange has completed the spin off of the business from Siemens.
Siemens said the completion of the structural realignment means it has successfully executed a key part of its Vision 2020+ strategy concept.
A total of 55% of Siemens Energy has been spun off to Siemens’ shareholders with the corresponding number of shares available for free-float ownership, a further 9.9% has been transferred to Siemens Pension-Trust.
Siemens intends to further reduce its equity stake in Siemens Energy significantly within 12 to 18 months.
Siemens chief financial officer and member of the supervisory board of Siemens Energy Ralf Thomas said: “The spin-off will create an independent and agile energy champion with a strong brand and Siemens’ engineering DNA.
“In the future, Siemens Energy will act independently and have a strong financial basis.
“At the same time, Siemens will become more transparent and leaner with a clear focus on the core business of its industrial units.
“We’re all the more convinced that this listing will create long-term value for the shareholders.”
Siemens president and chief executive Joe Kaeser said: “The listing of Siemens Energy means that we’ve successfully reached a key milestone in Siemens’ structural realignment.
“With three powerful, focused and independent companies, we have an outstanding setup for the future.
“The separately listed companies will be in a significantly better position to tap the individual businesses’ value-creating potential than would be possible in a conglomerate.
“This is another way in which we’re creating prospects for sustainable, long-term expansion of each of the businesses.
“After just a short time, Siemens Healthineers has provided an impressive example of what this change enables in terms of value creation and transformational alignments.”