Thyssenkrupp shares erase gains made since elevator IPO reveal

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen - Copyright Thilo Schmuelgen(Reuters)

By Reuters

Published on 31/05/2019 - 14:34•Updated 05/05/2024 - 05:44

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FRANKFURT (Reuters) - Shares in German industrial conglomerate Thyssenkrupp on Friday fell 3.8% to 11.32 euros per share, erasing all of the gains it made after announcing a partial listing of its elevator division earlier this month.

Shares had surged 28.2% on May 10 after the announcement, which was welcomed by analysts and investors after a previous strategy -- a spin off of its capital goods businesses -- failed to revive the group's fortunes.

(Reporting by Christoph Steitz; Editing by Thomas Seythal)

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