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| Name | Symbol | Market | Type |
|---|---|---|---|
| Siemens AG (PK) | USOTC:SIEGY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.08 | 2.23% | 95.24 | 94.25 | 95.42 | 95.345 | 93.0501 | 93.0501 | 85,184 | 21:05:46 |
From Apr 2019 to Apr 2024
By Kim Richters
Siemens AG said Friday that it is planning to spin-off and publicly list its mechanical drive systems manufacturer Flender.
The German engineering company said it will first integrate its Wind Energy Generation unit into Flender ahead of the spin-off. It then plans to publicly list the combined company.
Siemens said Flender's pro-forma annual revenue is going to be around 2 billion euros ($2.16 billion).
Its shareholders will vote on the plan at the annual shareholders' meeting in February 2021, the company said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
May 08, 2020 02:23 ET (06:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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