A New Era for TK Elevator: Mega-IPO in the USA
US IPO 2026: TK Elevator plans an IPO in the USA with a targeted valuation of over 20 billion euros (22.7 billion USD). The decision is driven by private equity consortium owners Advent, Cinven, and the RAG Foundation to benefit from higher valuation multiples compared to US competitors like Otis.
Thyssenkrupp sold TK Elevator in 2020 for 17.2 billion euros, which now receives indirect confirmation of a successful deal through the planned IPO.
Financial Leverage and Market Potential
The US market generates 35% of TKE’s revenue, underscoring the attractiveness of a US listing. Preparations are to be finalized by late 2025, although potential market turbulence from US tariffs poses risks.
Marine Division: A Strategic Realignment
The considerations to spin off the marine division from Thyssenkrupp could be as lucrative as the elevator deal and are intended to free up liquidity and reduce debt.
Investor Relevance: Impact and Opportunities
| Factor | Impact |
|---|---|
| IPO Valuation | Higher multiples compared to Europe could signal Thyssenkrupp’s restructuring success |
| Cash Influx | Potential returns from remaining shares or debt repayment |
| Sentiment | Positive market perception due to successful asset optimization |
The combination of TKE’s ambitious stock market debut and the corporate realignment could lead to a reevaluation of the stock in the medium term – particularly if further asset sales proceed as lucratively as the elevator deal.