Siemens Energy announced that it has begun trading on the Frankfurt Stock Exchange after Siemens spun-off of its Gas and Power business.
The share's opening price was quoted at 22,01 Euro, which corresponds to a market capitalisation of 15.993.460.697,93 Euro.
Christian Bruch, CEO of Siemens Energy: "Our listing marks the start of a new, important era in the company's history. As an independent company, we now have the entrepreneurial flexibility we need to help shape the global transformation of the energy markets in a sustainable and economically successful manner. We are also aware of the responsibility this brings with it, because with listing we are not only committed to society, but also to our shareholders. We are now doing everything in our power to seize the opportunities offered by the global energy transformation."
The listing is following the successful spin-off of the Gas and Power business from Siemens. With 91,000 employees in more than 90 countries, Siemens Energy is a leading global energy technology company. With its service business and its 67 per cent share in the listed Siemens Gamesa Renewable Energy, Siemens Energy is operating along almost the entire energy value chain. An estimated one-sixth of the world's power generation is already based on technologies from Siemens Energy. The largest shareholder is Siemens with a stake of 35.1 per cent.
Maria Ferraro, Chief Financial Officer of Siemens Energy: "Siemens Energy has all the ingredients it needs for a good start on the stock market: We are extremely well financed and have a compelling equity story. Our mission is to support our customers in the transformation of the global energy markets and at the same time to increase the shareholder value. This also includes a solid dividend policy. We intend to pay out between 40 and 60 percent of consolidated net income after taxes to our shareholders each year.”