Thyssenkrupp Stock Surges 14% On Warship Division Spin-Off Plan

(RTTNews) - Thyssenkrupp AG (TKAMY) is trading at $11.48, up 14.24 percent or $1.43 during Tuesday's trading, after confirming its plan to spin off a minority stake in its warship division, Thyssenkrupp Marine Systems, and list it on the Frankfurt stock exchange.

The stock opened at $10.70 and has traded between $10.70 and $11.51 so far, compared to a previous close of $10.05 on the OTC Markets. Trading volume stands at 114,884 shares, near the average of 125,634. The stock's 52-week range is $3.08 to $11.51.

The company also stated that discussions with the German government regarding potential participation in TKMS remain ongoing.