Sep 29, 2020, 07:12 EST
Bronx, United States, Sep 29, 2020, 07:12 /Comserve / -- started to trade on the Frankfurt Stock Exchange. Corresponding to a market capitalization of EUR 15,993,460,697.93, the opening price of the share was mentioned at EUR 22.01
Munich, Sept. 29, 2020 -- Siemens Energy AG, on Sept. 28, 2020, started to trade on the Frankfurt Stock Exchange. Corresponding to a market capitalization of EUR 15,993,460,697.93, the opening price of the share was mentioned at EUR 22.01.
The CEO of Siemens Energy, Christian Bruch talked about how the listing on the stock exchange is the beginning of a new and significant time in the history of the company. As the company becomes independent, it has gained a flexibility that was very much needed in order to shape the global transformation of energy markets. This will be done in a sustainable and successful manner economically. He also mentioned how the company has more responsibility as they are not only answerable to society but also to its shareholders. The company is looking forward to grasping a significant amount of opportunities that are offered by the global energy transformation.
Due to the outstanding spin-off of the Gas and Power business from Siemens AG, the listing was registered at the stock market. Siemens Energy is one of the leading global energy technology organization with around 91,000 employees working in upwards of 90 countries. Siemens Energy has a 67 percent share in Siemens Gamesa Renewable Energy. Therefore, through its service business, almost the entire energy value chain is being operated by Siemens Energy. According to certain estimates, around one-sixth of the power generation of the world is based on technologies from Siemens Energy. With a stake of 35.1 percent, Siemens AG is the largest shareholder in the company.
The Frankfurt Stock Exchange will see Siemens Energy trade shares on the Regulated Market (Prime Standard) with the symbol ENR. While the German Securities Identification Number is ENER6Y, the International Securities Identification Number (ISIN) is DE000ENER6Y0.
Siemens Energy recently launched its new Unified Power Flow Controller aptly named UPFC PLUS. Through this, the company is expanding the options that are available for grid stabilization. System operators, through the UPFC PLUS, will be able to stabilize the grid with dynamic control of the load flow in alternating current grids.
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